NU Online News Service, June 1, 2:35 p.m. – The New York State Insurance Department has renewed its temporary, emergency adoption of a new consumer financial and health information privacy regulation, Regulation 169, for the third time.
The department is taking the many steps necessary to adopt the regulation on a permanent basis to comply with the privacy provisions of the federal Gramm-Leach-Blilely Financial Services Modernization Act.
New York law permits the department to adopt some regulations for 90 days at a time on an emergency basis while it is seeking permanent approval.
The privacy regulation requires insurers to send customers annual privacy notices; give customers a chance to opt out of sharing personal financial information; and share personal health information only if customers actively agree to sharing of that information.
The New York department says most members of the public who have commented on the regulation want tougher privacy rules.