Wis. Admin. Code Office of the Commissioner of Insurance § Ins 25.30 - Limits on disclosure of nonpublic personal financial information to nonaffiliated third parties

Current through March 28, 2022

(1) PROCESS.
(a) Conditions for disclosure. Except as otherwise authorized in this chapter, a licensee may not, directly or through any affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party unless all of the following have occurred:
1. The licensee has provided to the consumer an initial notice as required under s. Ins 25.10.
2. The licensee has provided to the consumer an opt out notice as required in s. Ins 25.17.
3. The licensee has given the consumer a reasonable opportunity, before it discloses the information to the nonaffiliated third party, to opt out of the disclosure.
4. The consumer does not opt out.
(b) Opt out definition. Opt out means a direction by the consumer that the licensee not disclose nonpublic personal financial information about that consumer to a nonaffiliated third party, other than as permitted by ss. Ins 25.50, 25.55, and 25.60.
(c) Examples of reasonable opportunity to opt out. A licensee provides a consumer with a reasonable opportunity to opt out if it does any of the following:
1. `By mail.' The licensee mails the notices required in par. (a) to the consumer and allows the consumer to opt out by mailing a form, calling a toll-free telephone number or any other reasonable means within thirty days from the date the licensee mailed the notices.
2. `By electronic means.' A customer purchases an insurance service or product from a licensee and agrees to receive the notices required in par. (a) electronically, and the licensee allows the customer to opt out by any reasonable means within 30 days after the date that the customer acknowledges receipt of the notices in conjunction the transaction.
3. `Isolated transaction with consumer.' For an isolated transaction such as providing the consumer with an insurance quote, a licensee provides the consumer with a reasonable opportunity to opt out if the licensee provides the notices required in par. (a) at the time of the transaction and requests that the consumer decide, as a necessary part of the transaction, whether to opt out before completing the transaction.
(2) APPLICATION OF OPT OUT TO ALL CONSUMERS AND ALL NONPUBLIC PERSONAL FINANCIAL INFORMATION.
(a) A licensee shall comply with this section, regardless of whether the licensee and the consumer have established a customer relationship.
(b) Unless a licensee complies with this section, the licensee may not, except as permitted in ss. Ins 25.50, 25.55, and 25.60, directly or through any affiliate, disclose any nonpublic personal financial information about a consumer that the licensee has collected, regardless of whether the licensee collected it before or after receiving the direction to opt out from the consumer.
(3) PARTIAL OPT OUT. A licensee may allow a consumer to select certain nonpublic personal financial information or certain nonaffiliated third parties with respect to which the consumer wishes to opt out.

Notes

Wis. Admin. Code Office of the Commissioner of Insurance § Ins 25.30
Cr. Register, June, 2001, No. 546, eff. 7-1-01.

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