When must the Indiana Department of Insurance be notified of a security breach?

The requirement for notifying the Indiana Department of Insurance in the event of a security breach is indeed within 5 days. This prompt notification timeframe is crucial because it allows the department to take necessary actions to protect consumers and ensure that the integrity of the insurance market is maintained. By establishing a 5-day window, the law aims to facilitate swift responses to breaches, helping to mitigate the potential damage and the risk of identity theft or other adverse effects on affected individuals.

This rapid notification requirement underscores the importance of data security and consumer protection, prompting organizations to have robust incident response plans in place. It's important for entities affected by breaches to act quickly, maintaining compliance with state regulations while also safeguarding customer information.