Privacy legal unlikely this year
The issue of privacy, whether the Internet, financial information or public health data has become a hot button topic with the public on many levels.
Hence, promoting the interests Assekuranz expect more legislative efforts to enact laws of privacy can have a considerable impact on how its own agents, brokers and insurers.
Last year ’s Passage of the federal budget Gramm-Leach-Bliley Financial Services Modernization Act helped fuel to the fire of privacy.
The law, which is already prescribed affiliations between banks and insurers, a provision with which related companies within a holding structure of a financial sector to share customer financial information. The customer must be advised, however, and given an opportunity before the information could be distributed outside the holding “family”.
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