California Information Privacy Act (SB 1386)

{
  "id": "MLC-T-INS-000660",
  "term": "California Information Privacy Act (SB 1386)",
  "field": "Insurance and risk management",
  "definition": "A California state law, enacted in 2002, that was the first in the United States to mandate that organizations notify individuals of any security breach involving their unencrypted personal information. Senate Bill 1386 requires businesses and government agencies to disclose breaches of computerized data containing names paired with social security numbers, driver's license numbers, or financial account information. This statute created a new class of operational and liability risk, driving the development and adoption of cyber insurance policies to cover notification costs, credit monitoring, and legal defense.",
  "url": "https://mlchart.com/terminology/insurance/california-information-privacy-act-sb-1386/"
}