How can brokers protect themselves in their dealings with third parties such as insurers and adjusters?
A. Brokers must use contractual or other means to provide a comparable level of protection while the information is being processed by the third party. For example, if you are sending a client’s personal information to an insurance company, you should obtain written confirmation that it is complying with the Act. You should also ask for the name of the company’s Privacy Officer and a copy of its written policies on the protection of personal information. Ensure that those policies provide a comparable level of protection and where possible, obtain those assurances in writing.
Related Questions
- Is it true that only USDA licensed brokers, dealers, and commission merchants may protect their PACA trust rights by printing special language on their invoices?
- How can brokers protect themselves in their dealings with third parties such as insurers and adjusters?
- Are all insurers and brokers able to write and place insurance anywhere in the world?
