Enforcement of Gramm-Leach-Bliley Privacy Regulations

BULLETIN B 00-11

To: All Licensees, Insurance Companies, Hospital or Medical Service Corporations, Fraternal Benefit

Societies, Multiple Employee Welfare Arrangements, and Health Maintenance Organizations Transacting

Insurance in the State of Alaska and Other Interested Parties

Re: Enforcement of Gramm-Leach-Bliley Privacy Regulations

Title V of the Gramm-Leach-Bliley Act of 1999 (GLBA) sets forth specific requirements for financial institutions,

including insurers, regarding protection of their customers’ privacy. To implement these requirements, GLBA

directs federal and state regulators to establish appropriate standards covering administrative, technical, and physical

safeguards that financial institutions holding a customer’s nonpublic personal information must follow. Federal

regulators have issued rules and regulations to enforce the privacy provisions of GLBA upon financial institutions

other than insurers. Under these rules and regulations, federal regulators extended the compliance date to July 1,

2001.

The Alaska Division of Insurance plans to consider adopting regulations to implement the requirements of GLBA

with respect to insurers subject to the division’s jurisdiction. The anticipated effective date for compliance with

these regulations will be no sooner than July 1, 2001 in order to be consistent with the effective date of federal

privacy regulations. The division does not otherwise intend to enforce the GLBA privacy requirements before the

required federal compliance date of July 1, 2001.

If you have questions regarding the information provided in this bulletin, please contact Katie Campbell at:

Alaska Division of Insurance

P.O. Box 110805

Juneau AK 99811-0805

(907) 465-4607 (phone)

(907) 465-3422 (fax)

katie_campbell@commerce.state.ak.us (e-mail)

DATE: October 26, 2000

Robert A. Lohr

Director