Current through August 31, 2023
All terms defined in Title 41, Chapters 1 and 13, Idaho Code,
that are used in this rule have the same meaning as used in those chapters. In
addition, the following terms are defined as used in this chapter.
(3-31-22)
01.
Clear and
Conspicuous. (3-31-22)
a. A notice is
reasonably understandable and designed to call attention to the nature and
significance of the information in the notice if it: (3-31-22)
i. Presents the information in clear, concise
sentences, paragraphs, and sections; (3-31-22)
ii. Uses short explanatory sentences or
bullet lists whenever possible; (3-31-22)
iii. Uses definite, concrete, everyday words
and active voice whenever possible; (3-31-22)
iv. Avoids multiple negatives;
(3-31-22)
v. Avoids legal and
highly technical business terminology whenever possible; (3-31-22)
vi. Avoids explanations that are imprecise
and readily subject to different interpretations. (3-31-22)
vii. Uses an easy-to-read typeface and type
size, and uses boldface or italics for key words; and (3-31-22)
viii. When in a form that combines the
licensee's notice with other information, uses distinctive type size, style,
and graphic devices. (3-31-22)
b. If a licensee provides a notice on a web
page, the notice needs to call attention to the nature and significance of the
information in the notice and place the notice on a screen that consumers
frequently access, or place a link on a screen that consumers frequently access
that connects directly to the notice. (3-31-22)
02.
Collect. To obtain
information that the licensee organizes or can retrieve by the name of an
individual or by identifying number, symbol or other identifiers assigned to
the individual. (3-31-22)
03.
Company. A corporation, limited liability company, business trust,
general or limited partnership, association, sole proprietorship, or similar
organization. (3-31-22)
04.
Consumer. An individual who seeks to obtain, obtains, or has
obtained an insurance product or service from a licensee used primarily for
personal, family, or household purposes. Examples: (3-31-22)
a. An individual who provides nonpublic
personal information to a licensee in connection with an insurance product or
service is a consumer regardless of whether the licensee establishes an ongoing
advisory relationship. (3-31-22)
b.
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 the financial institution.
(3-31-22)
c. If the licensee
provides the initial, annual, and revised notices under Sections
100,
150, and
300 of this rule to the plan
sponsor, group or blanket insurance policyholder, or group annuity contract
holder, and if the licensee does not disclose to a nonaffiliated third party
nonpublic personal financial information about an individual other than as
permitted under Sections
450,
451, and
452 of this rule, an individual is
not the consumer of the licensee solely because he is: (3-31-22)
i. A participant or a beneficiary of an
employee benefit plan the licensee administers or sponsors or for which the
licensee acts as a trustee, insurer, or fiduciary; or (3-31-22)
ii. Covered under a group or blanket
insurance policy or group annuity contract issued by the licensee.
(3-31-22)
iii. A beneficiary in a
workers' compensation plan. (3-31-22)
d. An individual is not a licensee's consumer
solely because he is: (3-31-22)
i. A
beneficiary of a trust for which the licensee is a trustee; or
(3-31-22)
ii. Designated the
licensee as trustee for a trust. (3-31-22)
05.
Consumer Reporting Agency.
Is the same meaning as found in Section
603(f) of the
federal Fair Credit Reporting Act (
15 U.S.C.
1681a(f) ).
(3-31-22)
06.
Control:
(3-31-22)
a. Ownership, control, or power to
vote twenty-five percent (25%) or more of the outstanding shares of any class
of voting security of the company, directly or indirectly, or acting through
one (1) or more other persons; (3-31-22)
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 (3-31-22)
c. The power to exercise, directly or
indirectly, a controlling influence over the management or policies of the
company, as the director determines. (3-31-22)
07.
Customer. A consumer who has
a customer relationship with a licensee. (3-31-22)
08.
Customer Relationship. A
continuing relationship between a consumer and a licensee under which the
licensee provides one (1) or more insurance products or services to the
consumer to be used primarily for personal, family, or household purposes.
(3-31-22)
a. A consumer does not have a
continuing relationship with a licensee if: (3-31-22)
i. The licensee sells the consumer travel
insurance in an isolated transaction; (3-31-22)
ii. The individual is no longer a current
policyholder of an insurance product or no longer obtains insurance services
with or through the licensee; (3-31-22)
iii. The consumer is a beneficiary or
claimant under a policy and has submitted a claim under a policy choosing
either a lump sum settlement option or a settlement option involving an ongoing
relationship with the licensee; (3-31-22)
iv. The individual 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; or
(3-31-22)
09.
Financial Institution. Any institution engaging in activities that
are financial in nature. Financial institution does not include: (3-31-22)
a. 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 U.S.C.
1 et seq.); (3-31-22)
b. The Federal Agricultural Mortgage
Corporation or any entity charged and operating under the Farm Credit Act of
1971 ( 12 U.S.C.
2001 et seq.); or (3-31-22)
c. 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.
(3-31-22)
10.
Financial Product or Service. A product or service that a
financial holding company could offer including 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. (3-31-22)
11.
Licensee. (3-31-22)
a. A licensee
is not subject to the notice and opt out requirements for nonpublic personal
financial information set forth in this rule if the licensee is an employee,
agent, or other representative of another licensee ("the principal") and:
(3-31-22)
i. The principal complies with, and
provides the notices prescribed by this rule; and (3-31-22)
ii. The licensee does not disclose any
nonpublic personal information to any person other than the principal or its
affiliates in a manner permitted by this rule. (3-31-22)
b.
A licensee also includes an
unauthorized insurer that accepts business placed through a licensed surplus
lines broker in this state, but only in regard to the surplus lines placements
placed pursuant to Title 41, Chapter 12, Idaho Code.
(3-31-22)
12.
Nonpublic Personal Information. (3-31-22)
a. Means personally identifiable financial
information; including any list, description or other grouping of consumers
(see archived 18.01.48) derived using any personally identifiable financial
information not publicly available. (3-31-22)
b. Nonpublic personal financial information
does not include: (3-31-22)
i. Health
information; (3-31-22)
ii. Publicly
available information, except as included on a list described in Subparagraph
010.11.a., of this rule; or (3-31-22)
iii. Any list, description or other grouping
of consumers derived without using any personally identifiable financial
information that is not publicly available.
(3-31-22)
13.
Opt Out. A direction by the consumer that the licensee not
disclose nonpublic personal financial information about the consumer to a
nonaffiliated third party. (3-31-22)
14.
Personally Identifiable Financial
Information. (3-31-22)
a. Any
information: (3-31-22)
i. A consumer provides
to a licensee to obtain an insurance product or service from the licensee;
(3-31-22)
ii. About a consumer
resulting from a transaction involving an insurance product or service between
a licensee and a consumer. (3-31-22)
b. Examples of personally identifiable
financial information: (3-31-22)
i. Account
balance information and payment history; (3-31-22)
ii. The fact that an individual is or has
been one (1) of the licensee's customers or has obtained an insurance product
or service from the licensee; (3-31-22)
iii. Information about the licensee's
consumer if it is disclosed in a manner that indicates the individual is or has
been the licensee's consumer; (3-31-22)
iv. Information provided by a consumer to a
licensee or that the licensee or its agent obtains in connection with
collecting on a loan or servicing a loan; (3-31-22)
v. Information the licensee collects through
an Internet cookie (an information-collecting device from a web server); and
(3-31-22)
vi. Information from a
consumer report. (3-31-22)
c. Personally identifiable financial
information does not include: (3-31-22)
i.
Health information; (3-31-22)
ii. A
list of names and addresses of customers of an entity of a non-financial
institution; and (3-31-22)
iii.
Information that does not identify a consumer, such as aggregate information or
blind data that does not contain personal identifiers such as account numbers,
names or addresses. (3-31-22)
15.
Publicly Available
Information. (3-31-22)
a. Any
information that a licensee has a reasonable basis to believe is lawfully made
available to the general public. (3-31-22)
