Current through Register Vol. 63, No. 9, September 1, 2024
(1) A licensee shall provide an initial
notice as provided in ORS
746.620(1) and
also subsequently when further information is collected in connection with a
renewal or reinstatement of an insurance policy.
(2) A licensee is not required to provide an
initial notice to a consumer for purposes of ORS
746.620 if any of the following
circumstances applies:
(a) If the licensee
does not disclose any personal information about the consumer to any
nonaffiliated third party other than as authorized by ORS
746.665(1)(a) to (j) or (m) to
(q) and the licensee does not have a customer
relationship with the consumer.
(b)
If the licensee has a customer relationship with the consumer and the consumer
consents to the licensee's searching for insurance coverage to replace existing
coverage or to perform another insurance service for the consumer, and if
disclosure of personal information of the consumer meets the conditions
specified in ORS 746.665(1)(c)(B).
(c) If 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)
For the purpose of the notice requirement of ORS
746.620(1),
pursuant to which a licensee shall provide notice of information practices to a
consumer who becomes a customer of the licensee not later than the date that
the licensee establishes a continuing relationship with the consumer, a
continuing relationship between a licensee and consumer is established when the
consumer, as shown in the following examples:
(a) 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 agent, obtains insurance
through that licensee; or
(b)
Agrees to obtain financial, economic or investment advisory services relating
to insurance products or services for a fee from the licensee.
(4) 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, either of the following
provisions may apply to a licensee regarding the initial notice requirements of
ORS 746.620:
(a) The licensee may provide a revised policy
notice as provided in OAR
836-080-0531; 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 ORS
746.620.
(5) A licensee may provide the initial notice
required by ORS 746.620 within a reasonable time
after the licensee establishes a customer relationship if establishing the
customer relationship is not at the customer's election or if 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. The following are examples of exceptions
for purposes of this section:
(a) Not at the
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.
(b) Substantial delay
of a 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.
(c) No
substantial delay of a 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) When a licensee is required to deliver an
initial privacy notice by ORS
746.620, the licensee shall
deliver it according to OAR
836-080-0536. If the licensee
uses an abbreviated notice according to ORS
746.620, the licensee may
deliver the privacy notice as provided in OAR
836-080-0519(8).
(7) A licensee that uses a standard privacy
notice to comply with the requirements of the federal Gramm-Leach-Bliley Act of
1999 and its implementing regulations for its business as a financial
institution or that uses such a standard privacy notice for its insurance
business in two or more states may comply with the initial privacy notice
requirement by using either of the following options:
(a) By using the standard privacy notice and
another supplementary privacy notice that includes the elements required by ORS
746.620 and OAR
836-080-0519 that are not
contained in the standard privacy notice. The supplementary privacy notice must
prominently and clearly state that any rights an individual may have as
described in that notice are not abridged or limited by the standard privacy
notice that the individual may receive separately.
(b) By using a single Oregon-specific privacy
notice that complies in its entirety with ORS
746.620.
Stat. Auth.: ORS
731.244, ORS
746.600 & ORS
746.620
Stats. Implemented: ORS
746.600, ORS
746.620, ORS
746.630 & ORS
746.665
