3 Alaska Admin. Code § 26.675

Current through March 29, 2024

Section 3 AAC 26.675 - Exceptions for surplus line brokers, surplus lines insurers, and employees, agents, or other representatives of a licensee

(a) A person licensed, registered, or authorized under AS 21 is not subject to the notice and opt out requirements in 3 AAC 26.610 - 3 AAC 26.670, if the

(1) person is an employee or other representative of another licensee;

(2) licensee for whom the person is acting as an employee or other representative complies with and provides the notices required in 3 AAC 26.610 - 3 AAC 26.670; and

(3) person does not disclose nonpublic personal financial information to anyone other than the licensee for whom the person is acting as an employee or other representative or that licensee's affiliate, except as allowed under 3 AAC 26.660 - 3 AAC 26.670.

(b) A surplus lines broker or surplus lines insurer is not subject to the notice and opt out requirements under 3 AAC 26.610 - 3 AAC 26.670 if the surplus lines broker or surplus lines insurer

(1) does not disclose nonpublic personal information of a consumer to a service provider or nonaffiliated third party for any purpose, including joint marketing services under 3 AAC 26.660, except as permitted under 3 AAC 26.665 or 3 AAC 26.670; and

(2) delivers to the consumer a notice

(A) at the time a customer relationship is established; and

(B) that states in 16-point type the following:

"PRIVACY NOTICE:

Neither the U.S. broker that handled this insurance nor the insurer that has underwritten this insurance will disclose nonpublic personal information concerning the buyer to a non-affiliated broker or insurer except as permitted by law."

3 AAC 26.675

Eff. 1/1/2005, Register 172

In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.162 as AS 21.36.510. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 26.675, so that the citation to former AS 21.36.162 now refers to the renumbered statute, AS 21.36.510.

Authority:AS 21.06.090

AS 21.36.510