Insurance Data Protection: Less Direct Data Collection from Insurers
New rules limit federal financial agencies' ability to directly collect data from insurance companies. This aims to better protect insurance data privacy and reduce burdens on companies. Citizens may feel greater security regarding their data shared with insurers.
Key points
Federal financial agencies will be prohibited from directly collecting data from insurance companies.
Agencies must first check if needed data is available from other public sources or regulators.
Data sharing between insurance companies and regulators will be protected to maintain privacy and privilege.
Data collected from insurance companies will be subject to confidentiality and public information access rules.
Status:
Introduced
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