The Concord Group Insurance Companies are committed to protecting the privacy of prospective, current, and former policyholders. Insurance transactions, such as providing quotes, issuing new policies or servicing existing policies, and settling claims, require that we obtain Nonpublic Personal Financial Information (NPFI) from you and possibly from third parties. We recognize the obligation to protect the confidentiality of personal information that we obtain. This notification will provide information such as what information is considered NPFI, information we may disclose to third parties, and steps we take to secure information within our business operations.
Information We Collect...Why, What and How
Why: Quite simply, to process your insurance transaction. We will collect information only as it pertains to the business of providing insurance.
What: The NPFI collected can include information such as policy limits, payment history, and claims history. Depending on the type of insurance, it could also include information such as motor vehicle records, Loss information reports, property inspection reports, insurance scoring reports, and credit reports.
How: Most of the information is provided by you or your agent, within the application. We may also obtain information from third parties, such as the Department of Motor Vehicles (DMV) for motor vehicle reports or vendors providing insurance scoring, credit, or property inspection reports.
Information We Disclose
The Concord Group does not disclose any nonpublic personal information about our policyholders or former policyholders to anyone, except as permitted by law. We will disclose information to affiliates or nonaffiliated third parties only as it applies to processing insurance transactions. As an example, obtaining a motor vehicle report requires that we disclose your date of birth and perhaps license number to a third party. Should your policy include a Loss payee or mortgagee, we may be required to disclose to them information regarding the status of certain insurance transactions.
Opt Out Provisions
You are entitled to Opt Out of transactions involving the sharing of information, unless the transactions are exempt from Opt Out by law or regulation. The transactions described in the preceding paragraph are examples of exempt transactions. The companies of The Concord Group do not disclose or share information in any way that is subject to Opt Out. If this should change, we will notify you and, at that time, provide an opportunity to Opt Out.
Protecting Your Information
We understand the need to safeguard sensitive information. Access to nonpublic information about you is restricted to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards to protect the confidentiality of your nonpublic personal information.
Additional Information and Questions
Recently enacted federal and state laws have established privacy standards and disclosure requirements for financial institutions. These standards and requirements vary depending on the type of information collected and the level of disclosure to third parties. This notice has provided you with information as to how the Concord Group Insurance Companies, based on the requirements as pertains to its operations, protects your personal information. If you have any questions or comments, please send them along to us at the address below.
The Concord Group Insurance Companies
4 Bouton Street, Concord, NH 03301