Form of opt out notice to consumers and opt out methods – Wis. Admin. Code Ins §25-17

If an insurer is required to provide an opt-out notice, it must do so with a clear and conspicuous notice to consumers.  The notice must include the following information:

• That the insurer has the right to disclose nonpublic personal financial information to third parties;
• That the consumer has the right to opt-out of the disclosure;
• A reasonable way for the consumer to opt-out;

An insurer can provide a reasonable way for the consumer to opt out by:

• Having check boxes on the notice forms;
• Including a reply form with the opt-out notice;
• Providing an electronic way of opting-out;
• Providing a phone number where consumers can call to opt-out.

Reasonable ways an insurer can allow the consumer to opt-out DO NOT include exclusively making the consumer write his/her own opt-out letter or by providing a check box in the initial notice as the only way to opt-out.

The insurer must also have policies in place to deal with opt-outs for jointly insured individuals.