What are the legal requirements for handling customer data in an insurance context?

When handling customer data in an insurance context in the state of Michigan, there are a number of legal requirements that must be met. The Insurance Code of 1956 sets forth rules and regulations for the use of customer data. Insurance companies must obtain appropriate and informed consent from customers before they can collect personal information. Customers must also be made aware that their data may be shared with third parties and their rights to opt out of any data sharing. Insurance companies must also take measures to protect customer data from unauthorized access or malicious attacks, which can include using secure networks, encryption, and other security controls. Finally, insurance companies must implement processes for data security, privacy, and accountability that meet state and federal requirements. These processes must actively monitor the collection, storage, and management of customer data to ensure its accuracy and security. In addition to the legal requirements for handling customer data, insurance companies in Michigan must adhere to ethical standards when collecting, using, and sharing customer data. This includes treating customers fairly and in accordance with their stated preferences, as well as ensuring customer data is not used in ways that may cause harm.

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What are the legal requirements for handling customer data in an insurance context?

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