Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 25 - Privacy Of Consumer Financial And Health Information
Subchapter IV - Exceptions to Limits on Disclosure of Financial Information
Section Ins 25.50 - Exception to opt out requirements for disclosure of nonpublic personal financial information for service providers and joint marketing
Universal Citation: WI Admin Code ยง Ins 25.50
Current through August 26, 2024
(1) SERVICES.
(a) General rule. The opt out requirements in
ss.
Ins 25.17 and do not 25.30 apply when a licensee provides
nonpublic personal financial information to either of the following:
1. A nonaffiliated third party to perform
services for the licensee or functions on the licensee's behalf, if the
licensee complies with all of the following:
a. It provides the initial notice in
accordance with s.
Ins 25.10.
b.
It enters into a contractual agreement with the third party that prohibits the
third party from disclosing or using the information other than to carry out
the purposes for which the licensee disclosed the information, including use
under an exception in s.
Ins 25.55 or in the 25.60 ordinary course of business to
carry out those purposes.
2. A nonaffiliated third party for the
purpose of marketing goods or services under the brand name of a licensee under
ch. Ins 15, or an affiliate of such a licensee, if the licensee complies with
all of the following:
a. It provides the
initial notice in accordance with s.
Ins 25.10.
b.
The licensee or its affiliate enters into a contractual agreement with the
third party that prohibits the third party from disclosing or using the
information other than to carry out the purposes for which the licensee or its
affiliate disclosed the information, including use under an exception in s.
Ins 25.55 or in the 25.60 ordinary course of business to
carry out those purposes.
c. The
licensee or its affiliate contractually requires the third party to comply with
the licensee's or its affiliate's standards that are reasonably designed to
ensure the quality of the goods or services, and customer services.
d. The licensee or affiliate enters into a
contractual agreement with the third party that requires the third party to
implement reasonable safeguards to protect the security and confidentiality of
its nonpublic personal financial information and take action that is necessary
to enforce those safeguards.
(am) Solicitations. Nothing in this section
shall be construed or otherwise permit telephone solicitation which would
otherwise be prohibited under s.
100.52,
Stats., or subch. V of ch. ATCP 127.
(b) Example. If a licensee discloses
nonpublic personal financial information under this section to a financial
institution with which the licensee performs joint marketing, the licensee's
contractual agreement with that institution meets the requirements of par. (b)
if it prohibits the institution from disclosing or using the nonpublic personal
financial information except as necessary to carry out the joint marketing or
under an exception in s.
Ins 25.55 or in the 25.60 ordinary course of business to
carry out that joint marketing.
(2) SERVICE MAY INCLUDE JOINT MARKETING. The services a nonaffiliated third party performs for a licensee under sub. (1) may include marketing of the licensee's own products or services or marketing of financial products or services offered pursuant to joint agreements between the licensee and one or more financial institutions.
(3) DEFINITION OF "JOINT AGREEMENT". For purposes of this section, "joint agreement" means a written contract pursuant to which a licensee and one or more financial institutions jointly offer, endorse or sponsor a financial product or service.
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