NJ Privacy Law
Nearly half the states in the USA maintain a law related to data security practices of private entities - and to no surprise we're going to see this number increase.
New Jersey may be the next state to join the list, with the bill applicable to businesses having of five million dollars or more. Adoption of these laws carry implications for businesses - compliance costs, increased risks, and adjusted liabilities. The business operations of collection, use, storage, disposal, notice, and other activities involving Personally Identifiable Information (PII) are subjected to the various state laws. Keeping in mind the various state laws define what is PII - creating jurisdictional differences.
As with most bills we are likely to see continued revisions until approved. It will be important for businesses to connect with their legal, risk, and insurance professionals to ensure compliance when any laws are passed.