How frequently must the privacy notice be delivered to current customers?

The privacy notice must be delivered to current customers annually to ensure they are continually informed about how their personal information is being handled by the insurer. This annual delivery provides customers with updated information regarding their privacy rights and the company’s data practices, which can evolve over time. By sending the privacy notice every year, the insurer maintains transparency and reinforces the importance of privacy protection to its customers. This requirement is designed to enhance consumer awareness and trust in financial institutions.

The other options do not meet the regulatory requirements set forth for delivering privacy notices. Providing the notice only at the start of the relationship or upon request would not uphold the intent to keep customers regularly informed about their privacy rights. Additionally, a two-year interval would be too long and could result in customers missing critical updates about their personal information, diminishing their ability to make fully informed decisions about their privacy.