New Law Increases Financial Data Protection for Insurers

Governor Brown signed a law that protects the confidentiality of state investigations into the financial health of insurance companies. Under AB 1234 (Levine), the Department of Insurance cannot be forced to provide sensitive financial data as evidence in a civil proceeding. Commissioner Dave Jones said, “Critical and confidential information necessary to ensure solvency of insurers is now better protected.” The California Department of Insurance sponsored the legislation to align California law and practices with the National Association of Insurance Commissioners (NAIC) Model Act.

Last Updated 06/23/2021

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