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Current as of January 01, 2025 | Updated by Findlaw Staff
A. If a licensee learns that a cybersecurity event has or may have occurred, the licensee or an investigator shall conduct a prompt investigation.
B. During the investigation, the licensee or an investigator shall, at a minimum, determine as much of the following information as possible:
1. Determine whether a cybersecurity event has occurred;
2. Assess the nature and scope of the cybersecurity event;
3. Identify any nonpublic information that may have been involved in the cybersecurity event; and
4. Perform or oversee reasonable measures to restore the security of the information systems compromised in the cybersecurity event in order to prevent further unauthorized acquisition, release, or use of nonpublic information in the licensee's possession, custody, or control.
C. If a licensee learns that a cybersecurity event has or may have occurred in a system maintained by a third-party service provider, the licensee will complete the steps listed in subsection B or make reasonable efforts to confirm and document that the third-party service provider has completed those steps.
D. Each licensee shall maintain records concerning all cybersecurity events for a period of at least five years from the date of the cybersecurity event and shall produce those records upon demand of the Commissioner.
Cite this article: FindLaw.com - Virginia Code Title 38.2. Insurance § 38.2-624. Investigation of a cybersecurity event - last updated January 01, 2025 | https://codes.findlaw.com/va/title-38-2-insurance/va-code-sect-38-2-624/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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