NAC679B.810. “Consumer” defined.

     1. “Consumer” means a natural person, or the legal representative of a natural person:

     (a) Who seeks to obtain or has obtained an insurance product or service from a licensee that is to be used primarily for personal, family or household purposes; and

     (b) About whom the licensee has nonpublic personal financial information.

     2. The term includes:

     (a) A natural person who provides nonpublic personal financial information to a licensee in connection with obtaining or seeking to obtain financial, investment or economic advisory services relating to an insurance product or service, regardless of whether the licensee establishes an ongoing advisory relationship.

     (b) An applicant for insurance before the inception of insurance coverage.

     (c) If the licensee discloses nonpublic personal financial information about the natural person to a nonaffiliated third party other than a third party authorized to receive such information pursuant to NAC 679B.870, 679B.872 and 679B.874, a natural person who is:

          (1) An insured pursuant to a policy issued by the licensee;

          (2) An annuitant pursuant to an annuity issued by the licensee; or

          (3) A mortgagor of a mortgage covered by a mortgage insurance policy.

     (d) If the licensee does not meet all the conditions set forth in paragraph (d) of subsection 3, a natural person who is a holder of a contract for a group annuity.

     3. The term does not include:

     (a) A natural person who is a consumer of another financial institution solely because the licensee is acting as agent for, or provides processing or other services to, that financial institution.

     (b) A natural person solely because he or she is a beneficiary of a trust for which the licensee is a trustee.

     (c) A natural person solely because he or she has designated the licensee as trustee for a trust.

     (d) If a licensee provides the initial, annual and revised notices pursuant to NAC 679B.842, 679B.844 and 679B.860, respectively, to the holder of a contract for a group annuity, the holder of a contract for group or blanket insurance or the sponsor of an employee benefit plan that the licensee administers or sponsors or for which the licensee acts as a trustee, insurer or fiduciary, and if, except as otherwise provided in NAC 679B.870, 679B.872 and 679B.874, a licensee does not disclose nonpublic personal financial information to a nonaffiliated third party about such a natural person, a natural person solely because he or she is:

          (1) A participant in or a beneficiary of an employee benefit plan that the licensee administers or sponsors or for which the licensee acts as a trustee, insurer or fiduciary; or

          (2) Covered by a contract for a group annuity or group or blanket insurance issued by the licensee.

     (Added to NAC by Comm’r of Insurance by R130-01, eff. 12-17-2002)