Current as of: 2010 For purposes of the Privacy of Insurance Consumer Information Act: (1) Affiliate means any company that controls, is controlled by, or is under common control with another company; (2) Clear and conspicuous means that a notice is reasonably understandable and designed to call attention to the nature and significance of the information in the notice; (3) Collect means to obtain information that the licensee organizes or can retrieve by the name of an individual or by identifying number, symbol, or other identifying particular assigned to the individual, irrespective of the source of the underlying information; (4) Company means any corporation, limited liability company, business trust, general or limited partnership, association, sole proprietorship, or similar organization; (5)(a) Consumer means an individual who seeks to obtain, obtains, or has obtained an insurance product or service from a licensee that is to be used primarily for personal, family, or household purposes, and about whom the licensee has nonpublic personal information, or that individual's legal representative; (b) Consumer includes: (i) An individual who provides nonpublic personal information to a licensee in connection with obtaining or seeking to obtain financial, investment, or economic advisory services relating to an insurance product or service whether or not the licensee establishes an ongoing advisory relationship; (ii) An applicant for insurance prior to the inception of insurance coverage; and (iii) An individual who is a beneficiary of a life insurance policy underwritten by the licensee, who is a claimant under an insurance policy issued by the licensee, who is an insured or an annuitant under an insurance policy or an annuity issued by the licensee, or who is a mortgagor of a mortgage covered under a mortgage insurance policy, if the licensee discloses nonpublic personal financial information about such individual to a nonaffiliated third party other than as permitted under sections 44-913 to 44-915; (c) Consumer does not include an individual: (i) Who is a consumer of another financial institution solely because the licensee is acting as agent for, or provides processing or other services to, that financial institution; (ii) Solely because such individual is a participant or a beneficiary of an employee benefit plan that the licensee administers or sponsors or for which the licensee acts as a trustee, insurer, or fiduciary, covered under a group or blanket insurance policy or group annuity contract issued by the licensee, or a beneficiary in a workers' compensation plan if: (A) The licensee provides the initial, annual, and revised notices under sections 44-904, 44-905, and 44-908 to the plan sponsor, group or blanket insurance policyholder, group annuity contract holder, or workers' compensation plan participant; and (B) The licensee does not disclose to a nonaffiliated third party nonpublic personal financial information about such an individual other than as permitted under sections 44-913 to 44-915; (iii) Solely because he or she is a beneficiary of a trust for which the licensee is a trustee; or (iv) Solely because he or she has designated the licensee as a trustee for a trust; (6) Consumer reporting agency has the same meaning as in 15 U.S.C. 1681a(f), as such section existed on April 5, 2001; (7) Control means: (a) Ownership, control, or power to vote twenty-five percent 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; (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 (c) The power to exercise, directly or indirectly, a controlling influence over the management or policies of the company, as the director determines; (8) Customer means a consumer who has a customer relationship with a licensee; (9)(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. (b) Customer relationship includes a continuing relationship between a consumer and a licensee if: (i) The consumer is a current policyholder of an insurance product issued by or through the licensee; or (ii) The consumer obtains financial, investment, or economic advisory services relating to an insurance product or service from the licensee for a fee; (10) Director means the Director of Insurance; (11)(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 12 U.S.C. 1843(k), as such section existed on April 5, 2001. Laws 2001, LB 52, ยง 3. ________________________________________________________________________
Questions & Answers: InsuranceSee also: U.S. Code Provisions: InsuranceFederal Regulations: Insurance
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