An insurance agency must comply with the Gramm-Leach-Bliley Act (GLBA) when handling nonpublic personal information (NPI). Match each GLBA rule or classification with its correct regulatory description.
- Financial Privacy RuleRequires the delivery of notices detailing how an agency collects and shares information, including opt-out rights.
- Safeguards RuleMandates that agencies develop a written security program to protect data electronically and physically.
- Pretexting ProvisionsPrevents unauthorized individuals from obtaining nonpublic personal information through social engineering or deception.
- GLBA CustomerDefined as an individual who establishes an ongoing policyholder relationship with the insurance agency.
Answer
The Financial Privacy Rule pairs with delivering privacy notices and opt-out rights. The Safeguards Rule pairs with developing a written security program. Pretexting Provisions pair with preventing data theft via deception. A GLBA Customer pairs with having an ongoing policyholder relationship.
Each GLBA component has a distinct regulatory purpose. The Financial Privacy Rule handles notices and sharing rights; the Safeguards Rule handles the physical and electronic security of the data itself; Pretexting provisions stop unauthorized access through deception; and defining a 'Customer' establishes who receives ongoing annual privacy notices.
Step-by-Step Solution
Key Concept
Gramm-Leach-Bliley Act Core Components and Definitions