Md. Code Regs. 31.16.08.10

Current through Register Vol. 51, No. 24, December 2, 2024

Section 31.16.08.10 - Delivery of Privacy Notices for Financial Information

A. Manner of Delivery.

(1) A licensee required to provide a notice under this chapter shall provide any notice required by this chapter so that each consumer can reasonably be expected to receive actual notice in writing or, if the consumer agrees, electronically.

(2) A licensee may reasonably expect that a consumer will receive actual notice if the licensee:

(a) Hand-delivers a printed copy of the notice to the consumer;

(b) Mails a printed copy of the notice to the last-known address of the consumer separately, or in a policy, billing, or other written communication;

(c) For a consumer who conducts transactions electronically, posts the notice on the electronic site and requires the consumer to acknowledge receipt of the notice as a necessary step to obtaining a particular insurance product or insurance service; or

(d) For an isolated transaction with a consumer, such as the licensee providing an insurance quote or selling the consumer travel insurance, posts the notice and requires the consumer to acknowledge receipt of the notice as a necessary step to obtaining the particular insurance product or insurance service.

(3) A licensee fails to meet the requirements of §A(1) of this regulation if the licensee:

(a) Only posts a sign in its office or generally publishes advertisements of its privacy policies and practices; or

(b) Sends the notice via electronic mail to a consumer who does not obtain an insurance product or insurance service from the licensee electronically.

B. A licensee may reasonably expect that a customer will receive actual notice of the licensee's annual privacy notice if the customer:

(1) Uses the licensee's web site to access insurance products and insurance services electronically, and agrees to receive notices at the web site and the licensee posts its current privacy notice continuously in a clear and conspicuous manner on the web site; or

(2) Has requested that the licensee refrain from sending any information regarding the customer relationship, and the licensee's current privacy notice remains available to the customer upon request.

C. A licensee may not provide any notice required by this chapter solely by orally explaining the notice, either in person or over the telephone.

D. Notice for Customers.

(1) For customers only, a licensee shall provide the following privacy notices so that the customer can retain the privacy notices or obtain the privacy notices later in writing or, if the customer agrees, electronically:

(a) The initial notice required by Regulation .05A(1) of this chapter;

(b) The annual notice required by Regulation .06A of this chapter; and

(c) The revised notice required by Regulation .09 of this chapter.

(2) A licensee provides a privacy notice to the customer so that the customer can retain it or obtain it later if the licensee:

(a) Hand-delivers a printed copy of the notice to the customer;

(b) Mails a printed copy of the notice to the last-known address of the customer; or

(c) Makes its current privacy notice available on a web site for the customer who obtains an insurance product or insurance service electronically and agrees to receive the notice at the web site.

E. Joint Notice.

(1) A licensee may provide a joint notice from the licensee and one or more of its affiliates or other financial institutions, as identified in the notice, as long as the notice is accurate with respect to the licensee and the other institutions.

(2) A licensee also may provide a notice on behalf of another financial institution.

F. If two or more consumers jointly obtain an insurance product or insurance service from a licensee, the licensee may satisfy the requirements of Regulations .05A, .06A, and .09A of this chapter by providing one notice to those consumers jointly.

Md. Code Regs. 31.16.08.10