Client Alert
| August 11, 2011
NAIC Releases Draft White Paper on Use of Social Media in Insurance
The NAIC, through the Social Media Working Group (SMWG) of the Market Regulation & Consumer Affairs Committee, recently released a draft white paper on the Use of Social Media in Insurance (the “White Paper”). While the White Paper is a draft that has not yet been adopted by the Market Regulation & Consumer Affairs Committee, it provides guidance to navigate largely uncharted territory and may be read as a forecast of regulations to come. Significantly, in making various specific recommendations for compliance with applicable insurance, record retention, consumer protection and privacy laws, the White Paper repeatedly calls upon insurers to adopt a comprehensive program of procedures, policies and controls for use of social media.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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