West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-57 - Privacy Of Consumer Financial And Health Information
Section 114-57-5 - Information to be Included in Privacy Notices
Universal Citation: 114 WV Code of State Rules 114-57-5
Current through Register Vol. XLI, No. 38, September 20, 2024
5.1. The initial, annual and revised privacy notices that a licensee provides under sections 3, 4 and 7 shall include each of the following items of information, in addition to any other information the licensee wishes to provide, that applies to the licensee and to the consumers to whom the licensee sends its privacy notice:
a. The
categories of nonpublic personal financial information that the licensee
collects;
b. The categories of nonpublic
personal financial information that the licensee discloses;
c. The categories of affiliates and nonaffiliated
third parties to whom the licensee discloses nonpublic personal financial
information, other than those parties to whom the licensee discloses information
under sections 13 and 14;
d. The
categories of nonpublic personal financial information about the licensee's former
customers that the licensee discloses and the categories of affiliates and
nonaffiliated third parties to whom the licensee discloses nonpublic personal
financial information about the licensee's former customers, other than those
parties to whom the licensee discloses information under sections 13 and
14;
e. If a licensee discloses nonpublic
personal financial information to a nonaffiliated third party under section 12 (and
no other exception in sections 13 and 14 applies to that disclosure), a separate
description of the categories of information the licensee discloses and the
categories of third parties with whom the licensee has contracted;
f. An explanation of the consumer's right under
subsection 9.1 to opt out of the disclosure of nonpublic personal financial
information to nonaffiliated third parties, including the methods by which the
consumer may exercise that right at that time;
g. Any disclosures that the licensee makes under
section 603(d)(2)(A)(iii) of the federal Fair Credit Reporting Act (
15 U.S.C.
1681 a(d)(2)(A)(iii)) (that is, notices regarding
the ability to opt out of disclosures of information among affiliates);
h. The licensee's policies and practices with
respect to protecting the confidentiality and security of nonpublic personal
information; and
i. Any disclosure that
the licensee makes under subsection 5.2 of this section.
5.2. If a licensee discloses nonpublic personal financial information as authorized under sections 13 and 14, the licensee is not required to list those exceptions in the initial or annual privacy notices required by sections 3 and 4. When describing the categories of parties to whom disclosure is made, the licensee is required to state only that it makes disclosures to other affiliated or nonaffiliated third parties, as applicable, as permitted by law.
a. A licensee satisfies the requirement to
categorize the nonpublic personal financial information it collects if the licensee
categorizes it according to the source of the information, as applicable:
1. Information from the consumer;
2. Information about the consumer's transactions
with the licensee or its affiliates;
3.
Information about the consumer's transactions with nonaffiliated third parties;
and
4. Information from a consumer
reporting agency.
b. A
licensee satisfies the requirement to categorize nonpublic personal financial
information it discloses if the licensee categorizes the information according to
source, as described in subdivision a of this subsection, as applicable, and
provides a few examples to illustrate the types of information in each category.
These might include:
1. Information from the
consumer, including application information, such as assets and income, and
identifying information, such as name, address and social security number;
2. Transaction information, such as information
about balances, payment history and parties to the transaction; and
3. Information from consumer reports, such as a
consumer's creditworthiness and credit history.
c. A licensee does not adequately categorize the
information that it discloses if the licensee uses only general terms, such as
"transaction information about the consumer."
d. If a licensee reserves the right to disclose
all of the nonpublic personal financial information about consumers that it
collects, the licensee may simply state that fact without describing the categories
or examples of nonpublic personal information that the licensee discloses.
e. A licensee satisfies the requirement to
categorize the affiliates and nonaffiliated third parties to which the licensee
discloses nonpublic personal financial information about consumers if the licensee
identifies the types of businesses in which they engage.
1. Types of businesses may be described by general
terms only if the licensee uses a few illustrative examples of significant lines of
business. For example, a licensee may use the term "financial products or services"
if it includes appropriate examples of significant lines of businesses, such as life
insurer, automobile insurer, consumer banking or securities brokerage.
2. A licensee also may categorize the affiliates
and nonaffiliated third parties to which it discloses nonpublic personal financial
information about consumers using more detailed categories.
f. If a licensee discloses nonpublic personal
financial information under the exception in section 12 to a nonaffiliated third
party to market products or services that it offers alone or jointly with another
financial institution, the licensee satisfies the disclosure requirement of
subdivision e of subsection 5.1 if it:
1. Lists the
categories of nonpublic personal financial information it discloses, using the same
categories and examples the licensee used to meet the requirements of subdivision b
of subsection 5.1, as applicable; and
2.
States whether the third party is:
A. A service
provider that performs marketing services on the licensee's behalf or on behalf of
the licensee and another financial institution; or
B. A financial institution with whom the licensee
has a joint marketing agreement.
g. If a licensee does not disclose, and does not
wish to reserve the right to disclose, nonpublic personal financial information
about customers or former customers to affiliates or nonaffiliated third parties
except as authorized under sections 13 and 14, the licensee may simply state that
fact, in addition to the information it shall provide under subdivisions a, h, and i
of subsection 5.1 and under subsection 5.2.
h. A licensee describes its policies and practices
with respect to protecting the confidentiality and security of nonpublic personal
financial information if it does both of the following:
1. Describes in general terms who is authorized to
have access to the information; and
2.
States whether the licensee has security practices and procedures in place to ensure
the confidentiality of the information in accordance with the licensee's policy. The
licensee is not required to describe technical information about the safeguards it
uses.
5.3. A licensee may satisfy the initial notice requirements in subdivision b of subsection 3.1 and in subsection 6.7 for a consumer who is not a customer by providing a short-form initial notice at the same time as the licensee delivers an opt-out notice as required in section 6.
a. A short-form
initial notice shall:
1. Be clear and
conspicuous;
2. State that the
licensee's privacy notice is available upon request; and
3. Explain a reasonable means by which the
consumer may obtain that notice.
b. The licensee shall deliver its short-form
initial notice according to section 8. The licensee is not required to deliver its
privacy notice with its short-form initial notice. The licensee instead may simply
provide the consumer a reasonable means to obtain its privacy notice. If a consumer
who receives the licensee's short-form notice requests the licensee's privacy
notice, the licensee shall deliver its privacy notice according to section 8.
1. Examples of obtaining privacy notice. The
licensee provides a reasonable means by which a consumer may obtain a copy of its
privacy notice if the licensee:
A. Provides a
toll-free telephone number that the consumer may call to request the notice;
or
B. For a consumer who conducts
business in person at the licensee's office, maintains copies of the notice on hand
that the licensee provides to the consumer immediately upon request.
5.4. The licensee's notice may include:
a. Categories of
nonpublic personal financial information that the licensee reserves the right to
disclose in the future, but does not currently disclose; and
b. Categories of affiliates or nonaffiliated third
parties to whom the licensee reserves the right in the future to disclose, but to
whom the licensee does not currently disclose, nonpublic personal financial
information.
5.5. Sample clauses illustrating some of the notice content required by this section are included in Appendix A of this rule.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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