Insurance Regulation
A licensee proposes to give a consumer's nonpublic personal financial information to a nonaffiliated third party. What does Regulation 169 require first?
Answer and explanation
Answer: C. Regulation 169 requires the notice to a consumer before the licensee discloses nonpublic personal financial information to any nonaffiliated third party, unless the disclosure falls within the stated exceptions. A signed authorization, departmental approval and the third party's own licensure are not the rule's precondition.Source: New York Reg. 169, 11 NYCRR 420.4 — 11 NYCRR 420.4(a)(2)
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