(a) This article governs the treatment of nonpublic personal financial information about individuals by all insurance licensees. This article:
(1) Requires licensees to provide notice to individuals about its privacy policies and practices;(2) Establishes the conditions under which a licensee may disclose nonpublic personal financial information about individuals to affiliates and nonaffiliated third parties; and(3) Provides methods for individuals to prevent a licensee from disclosing that information.(b) This article shall apply to nonpublic personal financial information about individuals who obtain or are claimants or beneficiaries of a licensee’s products or services primarily for personal, family, or household purposes. This article shall not apply to information about companies or about individuals that obtain products or services for business, commercial, or agricultural purposes.(c) Notice provisions under part II of this article shall not apply to licensees in liquidation or receivership.
