IDC Names Securiti a Worldwide Leader in Data PrivacyView
Last Updated on October 10, 2023
The National Association of Insurance Commissioners (NAIC) is a US-based non-profit organization governed by the chief insurance regulators from the 50 states, the District of Columbia, and five US territories. In addition to preserving the financial security and solvency of the insurance business, one of NAIC’s main goals is to advance and safeguard the interests of insurance consumers by developing model laws for passage by the state legislatures. One of the several model laws developed by the NAIC to safeguard consumer data privacy and protection is the Privacy of Consumer Financial and Health Information Regulation (Model 672).
Model 672 regulates the handling of nonpublic personal financial information and nonpublic personal health information of individuals (protected private information) by insurers licensed, authorized, or registered under state insurance laws (licensees). Under Model 672, the licensees are required to provide the individuals with privacy notices, comply with different disclosure requirements with respect to the protected private information of individuals, and provide the individuals with opt-out notices to enable them to prevent the disclosure of their information.
Model 672 has been adopted by several US states, including Alabama, Alaska, California, Colorado, Connecticut, Delaware, Florida, Kentucky, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, South Carolina, Texas, Tennessee, Utah, Vermont, Washington, and others.
Securiti enables organizations to comply with Model 672 through AI-driven PI data discovery, DSR automation, documented accountability, enhanced visibility into data processing activities, and AI-driven process automation.
Securiti supports enterprises' journey toward compliance with Model 672 through automation, enhanced data visibility, and identity linking.
Utilize Securiti's collaborative readiness assessment template to assess your organization's compliance with Model 672 requirements, assess compliance gaps, and mitigate risks. Seamlessly expand assessment capabilities across your vendor ecosystem to maintain compliance against this standard.
Sections: 8A(1), 8F, 19C
With Securiti's Data Subject Rights Fulfillment capabilities, organizations can effectively honor a consumer's request to opt-out of the disclosure of protected private information.
Sections: 8A(1), 8A(2)(b), 17B, 19A, 20
Securiti's Universal Consent Management enables organizations to obtain consent/written authorization from individuals to disclose their protected private information.
Sections 672: 5A, 6A(1), 7A, 7D, 8A(1), 9A(1), 11(A), 10
Securiti's Privacy Notice Creation and Management module enables organizations to create, publish, and dynamically update their privacy notices in compliance with Model 672.
At Securiti, our mission is to enable enterprises to safely harness the incredible power of data and the cloud by controlling the complex security, privacy and compliance risks.
300 Santana Row
San Jose, CA 95128