SB1 Unnecessary and Costly to CA, ACIC Says

A California consumer privacy bill set to be heard in the Senate Judiciary Committee yesterday is unnecessary because current state law and department of insurance regulations give insurance policyholders adequate protection from any unauthorized use of personal financial information by insurance companies, says the Association of California Insurance Companies (ACIC). "The central feature of the current privacy issue before the legislature is identity theft," Jeff Fuller, executive vice president and general counsel of ACIC, advised the Senate Judiciary Committee in a Feb. 11 letter. "An...