New federal privacy bill imposes penalties and data duties on insurers
New federal privacy bill imposes penalties and data duties on insurers
Publish Date: 2026-06-17 23:49:00
Source Domain: www.insurancebusinessmag.com
To enforce the rules, the bill creates a Privacy and Consumer Data Commissioner, supported by a Commission and a Division. The Commissioner can investigate complaints, enter into compliance agreements, issue notices of contravention and carry out audits. The maximum administrative penalty for the contraventions found in a single investigation is the greater of $10,000,000 and 3% of the organization’s gross global revenue. An organization that knowingly breaches certain provisions commits an indictable offence and faces a fine of up to the greater of $25,000,000 and 5% of gross global revenue. The Act also creates a private right of action, letting an affected individual sue an organization for damages once a contravention has been established by the Commissioner or the Federal Court, or after a conviction under the Act.
