Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 25 - Privacy Of Consumer Financial And Health Information
Subchapter II - Privacy and Opt-Out Notices for Financial Information
Section Ins 25.15 - Information to be included in privacy notices
Universal Citation: WI Admin Code ยง Ins 25.15
Current through November 25, 2024
(1) GENERAL RULE. The initial, annual and revised privacy notices that a licensee provides under ss. Ins 25.10, 25.13, and shall include 25.20 all 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.
Note: See sample clause A-1 in Appendix A
(b) The categories of nonpublic personal
financial information that the licensee discloses.
Note: See sample clauses A-2 and A-3 in Appendix A
(c) The categories of affiliates
and nonaffiliated third parties to which the licensee discloses nonpublic
personal financial information, other than those parties to whom the licensee
discloses information under ss.
Ins 25.55 and 25.60.
Note: See sample clauses A-2, A-3 and A-4 in Appendix A
(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 ss.
Ins 25.55 and 25.60.
Note: See sample clauses A-2 and A-3 in Appendix A
(e) If a licensee discloses
nonpublic personal financial information to a nonaffiliated third party under
s.
Ins 25.50 (and no other exception in ss.
Ins 25.55 and applies 25.60 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.
Note: See sample clauses A-5 in Appendix A
(f) An explanation of the consumer's right
under s.
Ins 25.30(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.
Note: See sample clauses A-6 in Appendix A
(g) Any disclosures that the licensee makes
under Section 603(d)(2)(A)(iii) of the federal Fair Credit Reporting Act (15 USC
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 financial information.
Note: See sample clauses A-7 in Appendix A
(i) Any disclosure that the licensee makes
under sub. (2).
(2) DESCRIPTION OF PARTIES SUBJECT TO EXCEPTIONS. If a licensee discloses nonpublic personal financial information as authorized under ss. Ins 25.55 and 25.60, the licensee is not required to list those exceptions in the initial or annual privacy notices required by ss. Ins 25.10 and 25.13. 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.
(3) EXAMPLES.
(a) Categories of nonpublic personal
financial information that the licensee collects. A licensee satisfies the
requirement to categorize the nonpublic personal financial information it
collects if the licensee categorizes it according to all of the following
sources of the information:
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.
4. Information from a consumer reporting
agency.
(b) Categories
of nonpublic personal financial information a licensee discloses.
1. 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 par.
(a), as applicable, and provides at least one example, and additional examples
as are reasonably appropriate, to illustrate the types of information in each
category. Examples may include any of the following:
a. Information from the consumer, including
application information, such as assets and income and identifying information,
such as name, address and social security number.
b. Transaction information, such as
information about balances, payment history and parties to the
transaction.
c. Information from
consumer reports, such as a consumer's creditworthiness and credit
history.
2. 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.
3. 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 financial
information that the licensee discloses.
(c) Categories of affiliates and
nonaffiliated third parties to whom the licensee discloses.
1. 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.
2. Types of businesses may be described by
general terms only if the licensee uses at least one example, and additional
examples as are reasonably appropriate, to illustrate the 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.
3. 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 than those described in this paragraph.
(d) Disclosures under exception
for service providers and joint marketers. If a licensee discloses nonpublic
personal financial information under the exception in s.
Ins 25.50 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 sub. (1) (e)
if it does all of the following:
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 sub.
(1)(b), as applicable.
2. States
whether the third party is any of the following:
a. A service provider that performs marketing
services on the licensee's behalf or on behalf of the licensee and another
financial institution.
b. A
financial institution with whom the licensee has a joint marketing agreement.
(e)
Simplified notices. 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 ss.
Ins 25.55 and 25.60, the licensee may simply state
that fact, in addition to the information it shall provide under sub. (1) (a),
(h), and (i) and (2).
(f)
Confidentiality and security. A licensee describes its policies and practices
with respect to protecting the confidentiality and security of nonpublic
personal financial information if it does all of the following:
1. Describes in general terms who is
authorized to have access to the information.
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 that it
uses.
(4) SHORT-FORM INITIAL NOTICE WITH OPT-OUT NOTICE FOR NON-CUSTOMERS.
(a) A licensee may satisfy the initial notice
requirements in ss.
Ins 25.10(1) (b) and 25.17(3) 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 s.
Ins 25.17.
(b)
A short-form initial notice shall comply with all of the following:
1. It shall be clear and
conspicuous.
2. It shall state that
the licensee's privacy notice is available upon request.
3. It shall explain a reasonable means by
which the consumer may obtain that notice.
(c) The licensee shall deliver its short-form
initial notice according to s.
Ins 25.25. 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 s.
Ins 25.25.
(d) 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 does any of the following:
1. Provides a toll-free telephone number that
the consumer may call to request the notice.
2. 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) FUTURE DISCLOSURES. The licensee's notice may include any of the following:
(a) Categories of nonpublic personal
financial information that the licensee reserves the right to disclose in the
future, but does not currently disclose.
(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.
(6) SAMPLE CLAUSES. Sample clauses illustrating some of the notice content required by this section are included in Appendix A of this chapter.
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