State RegulationsAZ specificDifficulty 2/5
Under the Gramm-Leach-Bliley Act, an insurer's annual privacy notice must be provided to:
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
The Gramm-Leach-Bliley Act (Public Law 106-102) requires financial institutions, including insurers, to deliver an initial and annual privacy notice to customers that explains what nonpublic personal financial information is collected and how it is shared. Arizona's parallel chapter, A.R.S. 20-2121, implements the same privacy principles at the state level, so the customer-facing notice is the compliance centerpiece.
Why the other options are wrong
- A) the notice runs to customers; it is not a filing made to DIFI.
- B) consumer reporting agencies are sources of reports, not recipients of privacy notices.
- D) producers are not the notice audience; customers are.
Memory hook
The annual privacy letter goes home to the customer.