There is no non-discrimination clause in the federal privacy regulations. Why does the Pennsylvania financial privacy regulation include such a provision?
By its nature, insurance treats people differently depending upon their circumstances. For example, life insurance premium rates may differ depending upon age, health and gender, and homeowner’s insurance rates may differ depending upon the value and location of the home. An individual’s choice to protect his or her personal information, however, is not a legitimate factor in determining an appropriate underwriting rate. The Insurance Department does not want people to feel pressured to “sell” their private information in order to get cheaper insurance rates. It is important to note that the non-discrimination provision of the financial privacy regulation prohibits “unfair discrimination.” Although companies cannot discriminate against consumers and customers for prohibiting the disclosure of their personal information by raising rates or dropping coverage, companies do not have to offer them the special offers that are available to consumers and customers who permit their personal inf
Related Questions
- There is no non-discrimination clause in the federal privacy regulations. Why does the Pennsylvania financial privacy regulation include such a provision?
- What do Title VI and its implementing regulations require of recipients Federal financial assistance?
- Has the Federal Acquisition Regulation (FAR) council updated their regulations?
