§ 8506. Contents of corporate governance annual disclosure.
§ 8506. Contents of corporate governance annual disclosure. (a) The insurer or insurance group shall have discretion over the responses to the CGAD inquiries, provided the CGAD shall contain the material information necessary to permit the Commissioner to gain an understanding of the insurer’s or group’s corporate governance structure, policies and practices. The Commissioner may […]
§ 8507. Confidentiality.
§ 8507. Confidentiality. (a) Documents, materials or other information including the CGAD, in the possession or control of the Department that are obtained by, created by or disclosed to the Commissioner or any other person under this chapter, are recognized by this State as being proprietary and to contain trade secrets. All such documents, materials […]
§ 8508. NAIC and third-party consultants.
§ 8508. NAIC and third-party consultants. (a) The Commissioner may retain, at the insurer’s expense, third-party consultants, including attorneys, actuaries, accountants and other experts not otherwise a part of the Commissioner’s staff as may be reasonably necessary to assist the Commissioner in reviewing the CGAD and related information or the insurer’s compliance with this chapter. […]
§ 8509. Sanctions.
§ 8509. Sanctions. Any insurer failing, without just cause, to timely file the CGAD as required in this chapter shall be required, after notice and hearing, to pay a penalty of $500 for each day’s delay, to be recovered by the Commissioner and the penalty so recovered shall be paid into the General Fund. The […]
§ 8510. Severability clause.
§ 8510. Severability clause. If any provision of this chapter other than § 8507 of this title, or the application thereof to any person or circumstance, is held invalid, such determination shall not affect the provisions or applications of this chapter which can be given effect without the invalid provision or application, and to that […]
§ 8511. Effective date.
§ 8511. Effective date. The requirements of this chapter shall become effective on January 1, 2018. The first filing of the CGAD shall be in 2018. 81 Del. Laws, c. 119, § 1;
§ 8601. Short title.
§ 8601. Short title. This chapter is known and may be cited as the “Insurance Data Security Act.” 82 Del. Laws, c. 176, § 1;
§ 8602. Purpose and intent.
§ 8602. Purpose and intent. (a) Notwithstanding any other provision of law, this chapter establishes the exclusive state standards for data security and the investigation of, and notification to, the Commissioner and consumers when a cybersecurity event involving a licensee under this title occurs. (b) This chapter may not be construed to create or imply […]
§ 8603. Definitions.
§ 8603. Definitions. As used in this chapter: (1) “Authorized individual” means an individual to whom a licensee gave authorization to access and use nonpublic information that the licensee and the licensee’s information system holds. (2) “Commissioner” means the Insurance Commissioner of the State of Delaware. (3) “Consumer” means an individual, including an applicant, policyholder, […]
§ 8604. Information security program [For application of this section, see 82 Del. Laws, c. 176, § 2].
§ 8604. Information security program [For application of this section, see 82 Del. Laws, c. 176, § 2]. (a) Implementation of an information security program. — (1) A licensee shall develop, implement, and maintain a comprehensive, written information security program that is based on the licensee’s risk assessment and contains administrative, technical, and physical safeguards […]