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House Bill 474

Actions | Amendments

Last Action	04/08/22: signed by Governor (Acts Ch. 149)
Title	AN ACT relating to insurance data security.
Bill Documents	Acts Chapter 149 Current/Final Introduced
Bill Request Number	1028
Sponsor	M. Pollock
Summary of Original Version	Create new sections of Subtitle 3 of KRS Chapter 304 to establish definitions; require licensees to conduct risk assessments; require licensees to develop an information security program, including an incident response plan; require licensees to investigate cybersecurity events and potential cybersecurity events; establish recordkeeping requirements relating to cybersecurity events; establish reporting requirements relating to cybersecurity events; require licensees to comply with KRS 365.732; provide exceptions for certain provisions; authorize the commissioner to examine and investigate licensees for potential violations and take action necessary to enforce relevant provisions; establish how and under what circumstances documents, materials, or other information may be used or disclosed; prohibit the commissioner or other persons acting on under the authority of the commissioner from testifying in a private civil action concerning confidential documents, materials, or other information; provide that a licensee may be penalized for violations in accordance with KRS 304.99-020; authorize the commissioner to promulgate administrative regulations pursuant to KRS 304.2-110; provide for severability; establish a timeframe for implementation of certain provisions; EFFECTIVE January 1, 2023.
Index Headings of Original Version	Effective Dates, Delayed - Insurance, data security, requirements, January 1, 2023 Insurance - Data security, requirements Information Technology - Insurance, data security, requirements
Jump to Proposed Amendments	Senate Committee Substitute 1
Votes	Vote History

Actions

Top | Amendments

02/10/22	introduced in House to Committee on Committees (H)
02/15/22	to Banking & Insurance (H)
02/16/22	reported favorably, 1st reading, to Calendar
02/17/22	2nd reading, to Rules posted for passage in the Regular Orders of the Day for Friday, February 18, 2022
02/22/22	3rd reading, passed 94-0
02/23/22	received in Senate to Committee on Committees (S)
03/03/22	to Banking & Insurance (S)
03/15/22	reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
03/16/22	2nd reading, to Rules as a consent bill
03/17/22	posted for passage in the Consent Orders of the Day for Wednesday, March 23, 2022
03/23/22	passed over and retained in the Consent Orders of the Day
03/24/22	passed over and retained in the Consent Orders of the Day
03/25/22	passed over and retained in the Consent Orders of the Day
03/29/22	3rd reading, passed 36-0 with Committee Substitute (1) received in House to Rules (H) taken from Rules (H) posted for passage for concurrence in Senate Committee Substitute (1)
03/30/22	House concurred in Senate Committee Substitute (1) passed 94-0 enrolled, signed by Speaker of the House enrolled, signed by President of the Senate delivered to Governor
04/08/22	signed by Governor (Acts Ch. 149)

Proposed Amendments

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Amendment	Senate Committee Substitute 1
Summary	Retain original provisions except replace certain requirements for a licensee's board of directors with requirements for executive management; modify circumstances under which licensees are deemed to comply with the data security requirements; provide that financial institution licensees are deemed to comply with the data security requirements under certain circumstances; make technical amendments, effective January 1, 2023.
Index Headings	Effective Dates, Delayed - Insurance, data security, requirements, January 1, 2023 Insurance - Data security, requirements Information Technology - Insurance, data security, requirements Banks and Financial Institutions - Insurance, data security, requirements

Last updated: 2/8/2023 2:57 PM (EST)