Web Page Insurance Affiliate Disclosures

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Question:

We are forming an affiliation with an insurance company to offer insurance to our banking customers. Some of the products they offer are workers compensation, business auto, commercial property, group health, life, etc. We will be adding an Insurance Products button on our web site. My question is what disclosures do we need to include on the page.

Answer:

In addition to any disclosures which may be required by your state's insurance statutes, you will need to provide the Consumer Protection insurance disclosures if you are offering, soliciting, or selling any of the insurance to consumers. On purely business customers, the consumer insurance protection requirements are inapplicable.

If you plan to provide electronic disclosures, you must obtain the customer's consent. Follow the procedures outlined in ESIGN (or in UETA, if your state has adopted UETA in a form which preempts ESIGN) to obtain consent and to provide the disclosures in a permissible form.

First published on BankersOnline.com date 09/16/02