Current through Reg. 50, No. 187; September 24, 2024
(1) Initial notice requirement. A licensee
shall provide a clear and conspicuous notice that accurately reflects its
privacy policies and practices to:
(a)
Customer. An individual who becomes the licensee's customer, not later than
when the licensee establishes a customer relationship, except as provided in
subsection (5) of this rule; and
(b) Consumer. A consumer, before the licensee
discloses any nonpublic personal financial information about the consumer to
any nonaffiliated third party, if the licensee makes a disclosure other than as
authorized by rules 69J-128.015 and
69J-128.016,
F.A.C.
(2) When initial
notice to a consumer is not required. A licensee is not required to provide an
initial notice to a consumer under paragraph (1)(b) of this rule if:
(a) The licensee does not disclose any
nonpublic personal financial information about the consumer to any
nonaffiliated third party, other than as authorized by rules
69J-128.015 and
69J-128.016, F.A.C., and the
licensee does not have a customer relationship with the consumer; or
(b) A notice has been provided by an
affiliated licensee, as long as the notice clearly identifies all licensees to
whom the notice applies and is accurate with respect to the licensee and the
other institutions.
(3)
When the licensee establishes a customer relationship.
(a) General rule. A licensee establishes a
customer relationship at the time the licensee and the consumer enter into a
continuing relationship.
(b)
Examples of establishing customer relationship. A licensee establishes a
customer relationship when the consumer:
1.
Becomes a policyholder of a licensee that is an insurer when the insurer
delivers an insurance policy or contract to the consumer, or in the case of a
licensee that is an insurance producer or insurance broker, obtains insurance
through that licensee; or
2. Agrees
to obtain financial, economic or investment advisory services relating to
insurance products or services for a fee from the
licensee.
(4)
Existing customers. When an existing customer obtains a new insurance product
or service from a licensee that is to be used primarily for personal, family or
household purposes, the licensee satisfies the initial notice requirements of
subsection (1) of this rule as follows:
(a)
The licensee may provide a revised policy notice, under rule
69J-128.009, F.A.C., that covers
the customer's new insurance product or service; or
(b) If the initial, revised or annual notice
that the licensee most recently provided to that customer was accurate with
respect to the new insurance product or service, the licensee does not need to
provide a new privacy notice under subsection (1) of this
rule.
(5) Exceptions to
allow subsequent delivery of notice.
(a) A
licensee may provide the initial notice required by paragraph (1)(a) of this
rule, within a reasonable time after the licensee establishes a customer
relationship if:
1. Establishing the customer
relationship is not at the customer's election; or
2. Providing notice not later than when the
licensee establishes a customer relationship would substantially delay the
customer's transaction and the customer agrees to receive the notice at a later
time.
(b) Examples of
exceptions.
1. Not at customer's election.
Establishing a customer relationship is not at the customer's election if a
licensee acquires or is assigned a customer's policy from another financial
institution or residual market mechanism and the customer does not have a
choice about the licensee's acquisition or assignment.
2. Substantial delay of customer's
transaction. Providing notice not later than when a licensee establishes a
customer relationship would substantially delay the customer's transaction when
the licensee and the individual agree over the telephone to enter into a
customer relationship involving prompt delivery of the insurance product or
service.
3. No substantial delay of
customer's transaction. Providing notice not later than when a licensee
establishes a customer relationship would not substantially delay the
customer's transaction when the relationship is initiated in person at the
licensee's office or through other means by which the customer may view the
notice, such as on a website.
(6) Delivery. When a licensee is required to
deliver an initial privacy notice by this rule, the licensee shall deliver it
according to rule 69J-128.010, F.A.C. If the
licensee uses a short-form initial notice for non-customers according to
subsection 69J-128.007(4),
F.A.C., the licensee may deliver its privacy notice according to paragraph
69J-128.007(4)(c),
F.A.C.
Rulemaking Authority
624.308,
626.9651 FS. Law Implemented
624.307(1),
626.9651
FS.
New 12-16-01, Formerly 4-128.005,
69B-128.005.
