Michigan Laws 500.533 – Disclosure of policy or account number
Current as of: 2023 | Check for updates
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(1) A licensee shall not, directly or through an affiliate, disclose, other than to a consumer reporting agency, a policy or account number or other access number or access code for a consumer’s policy, credit card account, deposit account, or transaction account to any nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer.
(2) Subsection (1) does not apply if a licensee discloses a policy or account number or other access number or access code as follows:
Terms Used In Michigan Laws 500.533
- Affiliate: means any company that controls, is controlled by, or is under common control with another company. See Michigan Laws 500.503
- Consumer: includes , but is not limited to, all of the following:
(A) 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. See Michigan Laws 500.503Customer: means a consumer who has a customer relationship with a licensee. See Michigan Laws 500.503 Licensee: means a licensed insurer or producer, and other persons licensed or required to be licensed, authorized or required to be authorized, registered or required to be registered, or holding or required to hold a certificate of authority under this act. See Michigan Laws 500.503 Nonaffiliated third party: means any person except a licensee's affiliate or a person employed jointly by a licensee and any company that is not the licensee's affiliate. See Michigan Laws 500.503 Producer: means a person required to be licensed under this act to sell, solicit, or negotiate insurance. See Michigan Laws 500.503
(a) To the licensee’s service provider solely in order to perform marketing for the licensee’s own products or services, as long as the service provider is not authorized to directly initiate charges to the account.
(b) To a licensee who is a producer solely in order to perform marketing for the licensee’s own products or services.
(c) To a participant in an affinity or similar program where the participants in the program are identified to the customer when the customer enters into the program.
(3) Subsection (1) does not apply if the policy or account number, or other access number or access code, is in an encrypted form, as long as the licensee does not provide the recipient with a means to decode the number or code.
(4) As used in this section, “transaction account” means an account other than a deposit account or a credit card account. A transaction account does not include an account to which third parties cannot initiate charges.