Ill. Admin. Code tit. 50, § 4002.20 - Applicability
a) This Part
applies to all licensees, companies, and other persons licensed or required to
be licensed, or authorized or required to be authorized, or registered or
required to be registered, or domiciled pursuant to the Illinois Insurance Code
or any other Act of Chapter 215 of the Illinois Compiled Statutes. This Part
also applies to unauthorized insurers or companies who accept business placed
through a licensed surplus line producer in this State, but only in regard to
the surplus line transactions placed pursuant to Section 445 of the Illinois
Insurance Code [215 ILCS 5/445 ].
However, this Part does not apply to "service contract providers" as defined by
the Service Contract Act [215 ILCS 152 ].
b) A licensee is not subject to the notice
and opt out requirements for nonpublic personal financial information set forth
in this Part if the licensee is an employee, agent or other representative of
another licensee ("the principal") and:
1) The
principal otherwise complies with, and provides the notices required by, the
provisions of this Part; and
2) The
licensee does not disclose any nonpublic personal financial information to any
person other than the principal or its affiliates in a manner permitted by this
Part.
c) Any person or
company conducting transactions pursuant to Section 445 of the Illinois
Insurance Code [215 ILCS 5/445] shall be in compliance with the notice and opt
out requirements for nonpublic personal financial information set forth in this
Part provided:
1) The person or company
conducting transactions pursuant to Section 445 of the Illinois Insurance Code
does not disclose nonpublic personal information of a consumer or a customer to
nonaffiliated third parties for any purpose, including joint servicing or
marketing under Section
4002.130
of this Part, except as permitted by Section
4002.140
or
4002.150
of this Part; and
2) The person or
company conducting transactions pursuant to Section 445 of the Illinois
Insurance Code delivers a notice to the consumer at the time a customer
relationship is established on which the following is printed in 16-point type
and is clear and conspicuous:
PRIVACY NOTICE
NEITHER THE U.S. BROKERS THAT HANDLED THIS INSURANCE NOR THE INSURERS THAT HAVE UNDERWRITTEN THIS INSURANCE WILL DISCLOSE NONPUBLIC PERSONAL INFORMATION CONCERNING THE BUYER TO NONAFFILIATES OF THE BROKERS OR INSURERS EXCEPT AS PERMITTED BY LAW.
Notes
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