Ins 25.04(7)(7) “Consumer reporting agency” has the same meaning as in Section 603(f) of the federal Fair Credit Reporting Act (15 USC 1681a(f)). Ins 25.04(8)(a)(a) Ownership, control or power to vote 25 % or more of the outstanding shares of any class of voting security of the company, directly or indirectly, or acting through one or more other persons. Ins 25.04(8)(b)(b) Control in any manner over the election of a majority of the directors, trustees or general partners, or individuals exercising similar functions, of the company or by an agreement establishing an attorney in fact for a reciprocal as defined by s. 600.03 (41), Stats. Ins 25.04(8)(c)(c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the company. Ins 25.04(9)(9) “Customer” means a consumer who has a customer relationship with a licensee. Ins 25.04(10)(a)(a) “Customer relationship” means a continuing relationship between a consumer and a licensee under which the licensee provides one or more insurance products or services to the consumer that are to be used primarily for personal, family or household purposes. Ins 25.04(10)(b)(b) The following are examples relating to customer relationship:. Ins 25.04(10)(b)1.1. A consumer has a continuing relationship with a licensee if any of the following conditions exist: Ins 25.04(10)(b)1.a.a. The consumer is a current policyholder of an insurance product issued by or through the licensee. Ins 25.04(10)(b)1.b.b. The consumer obtains financial, investment or economic advisory services relating to an insurance product or service from the licensee for a fee. Ins 25.04(10)(b)2.2. A consumer does not have a continuing relationship with a licensee under any of the following conditions: Ins 25.04(10)(b)2.b.b. The licensee sells the consumer airline travel insurance in an isolated transaction. Ins 25.04(10)(b)2.c.c. The consumer is no longer a current policyholder of an insurance product or no longer obtains insurance services with or through the licensee. Ins 25.04(10)(b)2.d.d. The consumer is a beneficiary or claimant under a policy and has submitted a claim under that policy, choosing a settlement option involving an ongoing relationship with the licensee. Ins 25.04(10)(b)2.e.e. The consumer is a beneficiary or a claimant under a policy and has submitted a claim under that policy, choosing a lump sum settlement option. Ins 25.04(10)(b)2.f.f. The customer’s policy is lapsed, expired, or otherwise inactive or dormant under the licensee’s business practices, and the licensee has not communicated with the customer about the relationship for a period of twelve consecutive months, other than annual privacy notices, material required by law or regulation, communication at the direction of a state or federal authority, or promotional materials. Ins 25.04(10)(b)2.g.g. The consumer is an insured or an annuitant under an insurance policy or annuity, respectively, but is not the policyholder or owner of the insurance policy or annuity. Ins 25.04(10)(b)2.h.h. The consumer’s last known address according to the licensee’s records is deemed invalid. An address of record is deemed invalid if mail sent to that address by the licensee has been returned by the postal authorities as undeliverable and if subsequent attempts by the licensee to obtain a current valid address for the consumer have been unsuccessful. Ins 25.04(11)(a)(a) “Financial institution” means any institution the business of which is engaging in activities that are financial in nature or incidental to such financial activities as described in Section 4(k) of the Bank Holding Company Act of 1956 (12 USC 1843(k)). Ins 25.04(11)(b)(b) Financial institution does not include any of the following: Ins 25.04(11)(b)1.1. Any person or entity with respect to any financial activity that is subject to the jurisdiction of the Commodity Futures Trading Commission under the Commodity Exchange Act (7 USC 1 et seq.). Ins 25.04(11)(b)2.2. The Federal Agricultural Mortgage Corporation or any entity charged and operating under the Farm Credit Act of 1971 (12 USC 2001 et seq.). Ins 25.04(11)(b)3.3. Institutions chartered by Congress specifically to engage in securitizations, secondary market sales, including sales of servicing rights, or similar transactions related to a transaction of a consumer, as long as the institutions do not sell or transfer nonpublic personal information to a nonaffiliated third party. Ins 25.04(12)(a)(a) “Financial product or service” means any product or service that a financial holding company could offer by engaging in an activity that is financial in nature or incidental to such a financial activity under Section 4(k) of the Bank Holding Company Act of 1956 (12 USC 1843(k)).