Ins 25.50(1)(b) (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 25.60 in the ordinary course of business to carry out that joint marketing.

Ins 25.50(2) (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.

Ins 25.50(3) (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.

Ins 25.50 History History: Cr. Register, June, 2001, No. 546, eff. 7-1-01; CR: 03-083: am. (1) (a), cr. (1) (am) Register March 2004 No. 579, eff. 4-1-04.

Ins 25.55 Ins 25.55 Exceptions to notice and opt out requirements for disclosure of nonpublic personal financial information for processing and servicing transactions.

Ins 25.55(1) (1) Exceptions for processing transactions at a consumer’s request. The requirements for initial notice in s. Ins 25.10 (1) (b), the opt out in ss. Ins 25.17 and 25.30, and service providers and joint marketing in s. Ins 25.50 do not apply if the licensee discloses nonpublic personal financial information as necessary to effect, administer or enforce a transaction that a consumer requests or authorizes, or in connection with any of the following:

Ins 25.55(1)(a) (a) Servicing or processing an insurance product or service that a consumer requests or authorizes.

Ins 25.55(1)(b) (b) Maintaining or servicing the consumer’s account with a licensee, or with another entity as part of a private label credit card program or other extension of credit on behalf of such entity.

Ins 25.55(1)(c) (c) A proposed or actual securitization, secondary market sale (including sales of servicing rights) or similar transaction related to a transaction of the consumer.

Ins 25.55(1)(d) (d) Reinsurance or stop loss or excess loss insurance, including, but not limited to, for the purpose of placing, replacing or making a claim under reinsurance or stop-loss or excess loss insurance.

Ins 25.55(2) (2) Processing transaction. “Necessary to effect, administer or enforce a transaction” means that the disclosure is any of the following:

Ins 25.55(2)(a) (a) Required, or is one of the lawful or appropriate methods, to enforce the licensee’s rights or the rights of other persons engaged in carrying out the financial transaction or providing the product or service.

Ins 25.55(2)(b) (b) Required, or is a usual, appropriate or acceptable method to accomplish any of the following:

Ins 25.55(2)(b)1. 1. To carry out the transaction or the product or service business of which the transaction is a part, and record, service or maintain the consumer’s account in the ordinary course of providing the insurance product or service.

Ins 25.55(2)(b)2. 2. To administer or service benefits or claims relating to the transaction or the product or service business of which it is a part.

Ins 25.55(2)(b)3. 3. To provide a confirmation, statement or other record of the transaction, or information on the status or value of the insurance product or service to the consumer or the consumer’s agent or broker.

Ins 25.55(2)(b)4. 4. To accrue or recognize incentives or bonuses associated with the transaction that are provided by a licensee or any other party.

Ins 25.55(2)(b)5. 5. To underwrite insurance at the consumer’s request or for any of the following purposes as they relate to a consumer’s insurance: account administration, reporting, investigating or preventing fraud or material misrepresentation, processing premium payments, processing insurance claims, administering insurance benefits including utilization review activities, participating in research projects, workers compensation premium audits, workers’ compensation first reports of injury, workers’ compensation loss runs or as otherwise required or specifically permitted by federal or state law.

Ins 25.55(2)(b)6. 6. In connection with any of the following:

Ins 25.55(2)(b)6.a. a. The authorization, settlement, billing, processing, clearing, transferring, reconciling or collection of amounts charged, debited or otherwise paid using a debit, credit or other payment card, check or account number, or by other payment means.

Ins 25.55(2)(b)6.b. b. The transfer of receivables, accounts or interests therein.

Ins 25.55(2)(b)6.c. c. The audit of debit, credit or other payment information.

Ins 25.55 History History: Cr. Register, June, 2001, No. 546, eff. 7-1-01.

Ins 25.60 Ins 25.60 Other exceptions to notice and opt out requirements for disclosure of nonpublic personal financial information.

Ins 25.60(1) (1) Exceptions to opt out requirements. The requirements for initial notice to consumers in s. Ins 25.10 (1) (b), the opt out in ss. Ins 25.17 and 25.30, and service providers and joint marketing in s. Ins 25.50 do not apply when a licensee discloses nonpublic personal financial information under any of the following circumstances:

Ins 25.60(1)(a) (a) With the consent or at the direction of the consumer, provided that the consumer has not revoked the consent or direction.

Ins 25.60(1)(b) (b)

Ins 25.60(1)(b)1. 1. To protect the confidentiality or security of a licensee’s records pertaining to the consumer, service, product or transaction.

Ins 25.60(1)(b)2. 2. To protect against or prevent actual or potential fraud or unauthorized transactions.