New York Codes, Rules and Regulations › Title 11 - INSURANCE › Chapter XIX - Privacy Of Consumer Financial and health Information › Part 420 - Privacy Of Consumer Financial And Health Information › Additional Provisions › Section 420.25 - Appendix a-sample clauses

Current through Register Vol. 46, No. 28, July 10, 2024
Licensees, including a group of financial holding company
					 affiliates that use a common privacy notice, may use the following sample
					 clauses, if the clause is accurate for each institution that uses the notice.
					 (Note that disclosure of certain information, such as assets, income and
					 information from a consumer reporting agency, may give rise to obligations
					 under the Federal Fair Credit Reporting Act, such as a requirement to permit a
					 consumer to opt out of disclosures to affiliates or designation as a consumer
					 reporting agency if disclosures are made to nonaffiliated third parties.) Under
					 the FCRA, a licensee may be deemed a credit reporting agency if it makes
					 disclosures of certain types of information to nonaffiliated third
					 parties.
A-1 Categories of information the licensee collects (all
					 institutions).
A licensee may use this clause, as applicable, to meet the
					 requirement of section
					 420.6(a)(1) 
					 of this Part to describe the categories of nonpublic personal financial
					 information the licensee collects.
Sample Clause A-1:
We collect nonpublic personal financial information about
					 you from the following sources:
[*] Information we receive from you on applications or
					 other forms;
[*] Information about your transactions with us, our
					 affiliates, or others; and
[*] Information we receive from a consumer reporting
					 agency.
A-2 Categories of information a licensee discloses
					 (institutions that disclose outside of the exceptions).
A licensee may use one of these clauses, as applicable, to
					 meet the requirement of section
					 420.6(a)(2) 
					 of this Part to describe the categories of nonpublic personal financial
					 information the licensee discloses. The licensee may use these clauses if it
					 discloses nonpublic personal financial information other than as permitted by
					 the exceptions in sections
					 420.13,
					 420.14
					 and
					 420.15 
					 of this Part.
Sample Clause A-2, Alternative 1:
We may disclose the following kinds of nonpublic personal
					 financial information about you:
[*] Information we receive from you on applications or
					 other forms, such as [provide illustrative examples, such as "your name,
					 address, social security number, assets, income and beneficiaries"];
[*] Information about your transactions with us, our
					 affiliates, or others, such as [provide illustrative examples, such as "your
					 policy coverage, premiums and payment history"]; and
[*] Information we receive from a consumer reporting
					 agency, such as [provide illustrative examples, such as "your creditworthiness
					 and credit history"].
Sample Clause A-2, Alternative 2:
We may disclose all of the information that we collect, as
					 described [describe location in the notice, such as "above" or "below"].
A-3 Categories of information a licensee discloses and
					 parties to whom the licensee discloses (institutions that do not disclose
					 outside of the exceptions).
A licensee may use this clause, as applicable, to meet the
					 requirements of section
					 420.6(a)(2),
					 (3) and (4)  of this Part to describe the
					 categories of nonpublic personal financial information about customers and
					 former customers that the licensee discloses and the categories of affiliates
					 and nonaffiliated third parties to whom the licensee discloses. A licensee may
					 use this clause if it does not disclose nonpublic personal financial
					 information to any party, other than as permitted by the exceptions in sections
					 420.14
					 and
					 420.15 
					 of this Part.
Sample Clause A-3:
We do not disclose any nonpublic personal financial
					 information about our customers or former customers to anyone, except as
					 permitted by law.
A-4 Categories of parties to whom a licensee discloses
					 (institutions that disclose outside of the exceptions).
A licensee may use this clause, as applicable, to meet the
					 requirement of section
					 420.6(a)(3) 
					 of this Part to describe the categories of affiliates and nonaffiliated third
					 parties to whom a licensee discloses nonpublic personal financial information.
					 This clause may be used if the licensee discloses nonpublic personal financial
					 information other than as permitted by the exceptions in sections
					 420.13,
					 420.14
					 and
					 420.15 
					 of this Part, as well as when permitted by the exceptions in sections
					 420.14
					 and
					 420.15 
					 of this Part.
Sample Clause A-4:
We may disclose nonpublic personal financial information
					 about you to the following types of third parties:
[*] Financial service providers, such as [provide
					 illustrative examples, such as "life insurers, automobile insurers, mortgage
					 bankers, securities broker-dealers, and insurance agents"];
[*] Non-financial companies, such as [provide illustrative
					 examples, such as "retailers, direct marketers, airlines, and publishers"];
					 and
[*] Others, such as [provide illustrative examples, such as
					 "non-profit organizations"].
We may also disclose nonpublic personal financial
					 information about you to nonaffiliated third parties as permitted by
					 law.
A-5 Service provider/joint marketing exception.
A licensee may use one of these clauses, as applicable, to
					 meet the requirements of section
					 420.6(a)(5) 
					 of this Part related to the exception for service providers and joint marketers
					 in section
					 420.13 
					 of this Part. If a licensee discloses nonpublic personal financial information
					 under this exception, the licensee shall describe the categories of nonpublic
					 personal financial information the licensee discloses and the categories of
					 third parties with which the licensee has contracted.
Sample Clause A-5, Alternative 1:
We may disclose the following information to companies that
					 perform marketing services on our behalf or to other financial institutions
					 with which we have joint marketing agreements:
[*] Information we receive from you on applications or
					 other forms, such as [provide illustrative examples, such as "your name,
					 address, social security number, assets, income, and beneficiaries"];
[*] Information about your transactions with us, our
					 affiliates or others, such as [provide illustrative examples, such as "your
					 policy coverage, premium, and payment history"]; and
[*] Information we receive from a consumer reporting
					 agency, such as [provide illustrative examples, such as "your creditworthiness
					 and credit history"].
Sample Clause A-5, Alternative 2:
We may disclose all of the information we collect, as
					 described [describe location in the notice, such as "above" or "below"] to
					 companies that perform marketing services on our behalf or to other financial
					 institutions with whom we have joint marketing agreements.
A-6 Explanation of opt out right (licensees that disclose
					 outside of the exceptions).
A licensee may use this clause, as applicable, to meet the
					 requirement of section
					 420.6(a)(6) 
					 of this Part to provide an explanation of the consumer's right to opt out of
					 the disclosure of nonpublic personal financial information to nonaffiliated
					 third parties, including the method(s) by which the consumer may exercise that
					 right. The licensee may use this clause if the licensee discloses nonpublic
					 personal financial information other than as permitted by the exceptions in
					 sections
					 420.13,
					 420.14
					 and
					 420.15 
					 of this Part.
Sample Clause A-6:
If you prefer that we not disclose nonpublic personal
					 financial information about you to nonaffiliated third parties, you may opt out
					 of those disclosures, that is, you may direct us not to make those disclosures
					 (other than disclosures permitted by law). If you wish to opt out of
					 disclosures to nonaffiliated third parties, you may [describe a reasonable
					 means of opting out, such as "call the following toll-free number: (insert
					 number)"].
A-7 Confidentiality and security (all institutions).
A licensee may use this clause, as applicable, to meet the
					 requirement of section
					 420.6(a)(8) 
					 of this Part to describe its policies and practices with respect to protecting
					 the confidentiality and security of nonpublic personal financial
					 information.
Sample Clause A-7:
We restrict access to nonpublic personal financial
					 information about you to [provide an appropriate description, such as "those
					 employees who need to know that information to provide products or services to
					 you"]. We maintain physical, electronic, and procedural safeguards that comply
					 with Federal and State regulations to guard your nonpublic personal financial
					 information.