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
The licensee has provided to the
consumer an initial notice as required under s.
The licensee has provided to the consumer an opt out notice as required in s.
The licensee has given the consumer a reasonable opportunity, before it
discloses the information to the nonaffiliated third party, to opt out of the
4. The consumer does
not 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.
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.
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.
`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.
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
licensee complies with this section, the licensee may not, except as permitted
, 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
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.
Wis. Admin. Code Office of the
Commissioner of Insurance § Ins
Cr. Register, June,
2001, No. 546, eff. 7-1-01.