SC | The South Carolina Insurance Data Security Act became law on May 9, 2018. Today, the SC Department of Insurance released the first in a series of bulletins explaining how the act will be implemented. Bulletin 2018-02 outlines the scope of the Act. It explains who must comply with the new regulations and who may qualify for an exemption. It also outlines the components licensees must include in their data security plans to meet the state’s regulatory standard. The full text of the legislation also appears in the bulletin.
This legislation takes effect on January 1, 2019, although certain requirements will phase in over time. Based on our experience with New York’s implementation of its cybersecurity regulation, ILSA strongly recommends that South Carolina licensees act now. Please study the act closely and plan for compliance before the act takes effect.
Due to the nature of the information required to certify compliance with this regulation, ILSA cannot directly assist you with creating your data security compliance plan. Furthermore, we cannot certify compliance on our clients’ behalf. We will, however, continue to monitor the implementation of this new regulation. We will publish information concerning regulatory requirements and deadlines as it becomes available. Please follow our Newsroom and social media channels.