Ins 25.04(6)(c)4.4. An individual is not a licensee’s consumer solely because he or she has designated the licensee as trustee for a trust. Ins 25.04(6)(c)5.5. An individual who is a consumer of another financial institution is not a licensee’s consumer solely because the licensee is acting as agent for, or provides processing or other services to, that financial institution. Ins 25.04(6)(d)(d) “Consumer” includes the legal representative of an individual who is a consumer. Ins 25.04(7)(7) “Consumer reporting agency” has the same meaning as in Section 603(f) of the federal Fair Credit Reporting Act (15 USC 1681a(f)). Ins 25.04(8)(a)(a) Ownership, control or power to vote 25 % or more of the outstanding shares of any class of voting security of the company, directly or indirectly, or acting through one or more other persons. Ins 25.04(8)(b)(b) Control in any manner over the election of a majority of the directors, trustees or general partners, or individuals exercising similar functions, of the company or by an agreement establishing an attorney in fact for a reciprocal as defined by s. 600.03 (41), Stats. Ins 25.04(8)(c)(c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the company. Ins 25.04(9)(9) “Customer” means a consumer who has a customer relationship with a licensee. Ins 25.04(10)(a)(a) “Customer relationship” means a continuing relationship between a consumer and a licensee under which the licensee provides one or more insurance products or services to the consumer that are to be used primarily for personal, family or household purposes. Ins 25.04(10)(b)(b) The following are examples relating to customer relationship:. Ins 25.04(10)(b)1.1. A consumer has a continuing relationship with a licensee if any of the following conditions exist: Ins 25.04(10)(b)1.a.a. The consumer is a current policyholder of an insurance product issued by or through the licensee. Ins 25.04(10)(b)1.b.b. The consumer obtains financial, investment or economic advisory services relating to an insurance product or service from the licensee for a fee. Ins 25.04(10)(b)2.2. A consumer does not have a continuing relationship with a licensee under any of the following conditions: Ins 25.04(10)(b)2.b.b. The licensee sells the consumer airline travel insurance in an isolated transaction. Ins 25.04(10)(b)2.c.c. The consumer is no longer a current policyholder of an insurance product or no longer obtains insurance services with or through the licensee. Ins 25.04(10)(b)2.d.d. The consumer is a beneficiary or claimant under a policy and has submitted a claim under that policy, choosing a settlement option involving an ongoing relationship with the licensee. Ins 25.04(10)(b)2.e.e. The consumer is a beneficiary or a claimant under a policy and has submitted a claim under that policy, choosing a lump sum settlement option. Ins 25.04(10)(b)2.f.f. The customer’s policy is lapsed, expired, or otherwise inactive or dormant under the licensee’s business practices, and the licensee has not communicated with the customer about the relationship for a period of twelve consecutive months, other than annual privacy notices, material required by law or regulation, communication at the direction of a state or federal authority, or promotional materials. Ins 25.04(10)(b)2.g.g. The consumer is an insured or an annuitant under an insurance policy or annuity, respectively, but is not the policyholder or owner of the insurance policy or annuity. Ins 25.04(10)(b)2.h.h. The consumer’s last known address according to the licensee’s records is deemed invalid. An address of record is deemed invalid if mail sent to that address by the licensee has been returned by the postal authorities as undeliverable and if subsequent attempts by the licensee to obtain a current valid address for the consumer have been unsuccessful. Ins 25.04(11)(a)(a) “Financial institution” means any institution the business of which is engaging in activities that are financial in nature or incidental to such financial activities as described in Section 4(k) of the Bank Holding Company Act of 1956 (12 USC 1843(k)). Ins 25.04(11)(b)(b) Financial institution does not include any of the following: Ins 25.04(11)(b)1.1. Any person or entity with respect to any financial activity that is subject to the jurisdiction of the Commodity Futures Trading Commission under the Commodity Exchange Act (7 USC 1 et seq.). Ins 25.04(11)(b)2.2. The Federal Agricultural Mortgage Corporation or any entity charged and operating under the Farm Credit Act of 1971 (12 USC 2001 et seq.). Ins 25.04(11)(b)3.3. Institutions chartered by Congress specifically to engage in securitizations, secondary market sales, including sales of servicing rights, or similar transactions related to a transaction of a consumer, as long as the institutions do not sell or transfer nonpublic personal information to a nonaffiliated third party. Ins 25.04(12)(a)(a) “Financial product or service” means any product or service that a financial holding company could offer by engaging in an activity that is financial in nature or incidental to such a financial activity under Section 4(k) of the Bank Holding Company Act of 1956 (12 USC 1843(k)). Ins 25.04(12)(b)(b) Financial service includes a financial institution’s evaluation or brokerage of information that the financial institution collects in connection with a request or an application from a consumer for a financial product or service. Ins 25.04(13)(a)(a) Preventive, diagnostic, therapeutic, rehabilitative, maintenance or palliative care, services, procedures, tests or counseling that involves any of the following: Ins 25.04(13)(a)1.1. It relates to the physical, mental or behavioral condition of an individual. Ins 25.04(13)(a)2.2. It affects the structure or function of the human body or any part of the human body, including the banking of blood, sperm, organs or any other tissue. Ins 25.04(13)(b)(b) Prescribing, dispensing or furnishing to an individual drugs or biologicals, or medical devices or health care equipment and supplies. Ins 25.04(14)(14) “Health care provider” means a physician or other health care practitioner licensed, accredited or certified to perform specified health services consistent with state law, or a health care facility. Ins 25.04(15)(15) “Health information” means any information or data except age or gender, whether oral or recorded in any form or medium, created by or derived from a health care provider or the consumer that relates to any of the following: Ins 25.04(15)(a)(a) The past, present or future physical, mental or behavioral health or condition of an individual. Ins 25.04(16)(a)(a) “Insurance product or service” means any product or service that is offered by a licensee pursuant to the insurance laws of this state. Ins 25.04(16)(b)(b) Insurance service includes a licensee’s evaluation, brokerage or distribution of information that the licensee collects in connection with a request or an application from a consumer for an insurance product or service. Ins 25.04(17)(a)(a) “Licensee” means all insurers, intermediaries, third party administrators and other persons licensed or required to be licensed, or authorized or required to be authorized, or registered or required to be registered under chs. 600 to 655, Stats. Ins 25.04(17)(b)(b) A licensee is not subject to the notice and opt out requirements for nonpublic personal financial information set forth in subchs. I to IV if the licensee is an employee, agent or other representative of another licensee (“the principal”) and all of the following conditions exist: Ins 25.04(17)(b)1.1. The principal otherwise complies with, and provides the notices required by, the provisions of this chapter. Ins 25.04(17)(b)2.2. The licensee does not disclose any nonpublic personal financial information to any person other than the principal or its affiliates in a manner permitted by this chapter. Ins 25.04(17)(c)1.1. Subject to subd. 2., “licensee” also includes an unauthorized insurer that accepts business placed through a licensed surplus lines broker or agent in this state, but only in regard to placements placed pursuant to s. 618.41, Stats. Ins 25.04(17)(c)2.2. A surplus lines broker or agent or surplus lines insurer shall be deemed to be in compliance with the notice and opt out requirements for nonpublic personal financial information set forth in subchs. I to IV provided all of the following occur: Ins 25.04(17)(c)2.a.a. The broker, agent or insurer does not disclose nonpublic personal financial information of a consumer or a customer to nonaffiliated third parties for any purpose, including joint servicing or marketing under s. Ins 25.50, except as permitted by s. Ins 25.55 or 25.60. Ins 25.04(17)(c)2.b.b. The broker, agent or insurer delivers a notice to the consumer at the time a customer relationship is established on which the following is printed in 16-point type: PRIVACY NOTICE
NEITHER THE U.S. BROKERS THAT HANDLED THIS INSURANCE NOR THE INSURERS THAT HAVE UNDERWRITTEN THIS INSURANCE WILL DISCLOSE NONPUBLIC PERSONAL FINANCIAL INFORMATION CONCERNING THE BUYER TO NONAFFILIATES OF THE BROKERS OR INSURERS EXCEPT AS PERMITTED BY LAW.
Ins 25.04(18)(a)(a) “Nonaffiliated third party” means any person except any of the following: Ins 25.04(18)(a)2.2. A person employed jointly by a licensee and any company that is not the licensee’s affiliate. Under these circumstances “nonaffiliated third party” does include the other company that jointly employs the person. Ins 25.04(18)(b)(b) “Nonaffiliated third party” includes any company that is an affiliate solely by virtue of the direct or indirect ownership or control of the company by the licensee or its affiliate in conducting merchant banking or investment banking activities of the type described in Section 4(k)(4)(H) or insurance company investment activities of the type described in Section 4(k)(4)(I) of the federal Bank Holding Company Act (12 USC 1843(k)(4)(H) and (I)). Ins 25.04(19)(19) “Nonpublic personal information” means nonpublic personal financial information and nonpublic personal health information. Ins 25.04(20)(a)(a) “Nonpublic personal financial information” means all of the following: Ins 25.04(20)(a)2.2. Any list, description or other grouping of consumers, and publicly available information pertaining to them, that is derived using any personally identifiable financial information that is not publicly available. Ins 25.04(20)(b)(b) Nonpublic personal financial information does not include any of the following: Ins 25.04(20)(b)3.3. Any list, description or other grouping of consumers, and publicly available information pertaining to them, that is derived without using any personally identifiable financial information that is not publicly available. Ins 25.04(20)(c)1.1. Nonpublic personal financial information includes any list of individuals’ names and street addresses that is derived in whole or in part using personally identifiable financial information that is not publicly available, such as account numbers. Ins 25.04(20)(c)2.2. Nonpublic personal financial information does not include any list of individuals’ names and addresses that contains only publicly available information, is not derived in whole or in part using personally identifiable financial information that is not publicly available, and is not disclosed in a manner that indicates that any of the individuals on the list is a consumer of a financial institution. Ins 25.04(21)(21) “Nonpublic personal health information” means any of the following health information: Ins 25.04(21)(a)(a) Health information that identifies an individual who is the subject of the information. Ins 25.04(21)(b)(b) Health information with respect to which there is a reasonable basis to believe that the information could be used to identify an individual. Ins 25.04(22)(a)(a) “Personally identifiable financial information” means any of the following information: Ins 25.04(22)(a)1.1. Information a consumer provides to a licensee to obtain an insurance product or service from the licensee. Ins 25.04(22)(a)2.2. Information about a consumer resulting from a transaction involving an insurance product or service between a licensee and a consumer. Ins 25.04(22)(a)3.3. Information the licensee otherwise obtains about a consumer in connection with providing an insurance product or service to that consumer. Ins 25.04(22)(b)(b) The following are examples of personally identifiable financial information: Ins 25.04(22)(b)1.1. Personally identifiable financial information includes any of the following: Ins 25.04(22)(b)1.a.a. Information a consumer provides to a licensee on an application to obtain an insurance product or service. Ins 25.04(22)(b)1.c.c. The fact that an individual is or has been one of the licensee’s customers or has obtained an insurance product or service from the licensee. Ins 25.04(22)(b)1.d.d. Any information about the licensee’s consumer if it is disclosed in a manner that indicates that the individual is or has been the licensee’s consumer.
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