Life Insurers Support Common Sense Consumer Privacy Protections

The American Council of Life Insurers (ACLI) has long advocated for common-sense, consumer-oriented policy proposals.

Last week the U.S. Chamber of Commerce’s Technology Engagement Center published a white paper that calls for a national data strategy, including the need for national privacy legislation. ACLI strongly supports the creation of an unequivocal federal pre-emptive privacy standard and applauds the Chamber’s efforts in this area. 

Our industry is aligned with the U.S. Chamber in believing that consumers should have notice, choice and reasonable control with respect to the collection, use and sharing of personal information. ACLI members recognize their affirmative and continuing commitment to respect consumer privacy through transparency in the collection, use and disclosure of personal information.  

To meet these consumer expectations, ACLI members support a national privacy law that provides pre-emptive, uniform standards for all consumers to govern their interactions with all business sectors. These uniform federal standards should empower consumers by requiring businesses to provide: 

• Clear and concise notice about the collection, use and disclosure of personal information.
• The reasonable ability for consumers to have control over their information, including the ability to access and correct inaccuracies, consistent with legitimate business purposes and/or legal requirements to retain such information.

Consumers and companies need privacy requirements which:

• Are consistent and equivalent across the nation
• Provide control and equal protections to all consumers
• Support growth and innovation
• Benefit consumers and companies
• Provide legal transparency and the same level enforceable rights

The life insurance industry has joined with other industries and the U.S. Chamber in continuing the call for a national data privacy law. ACLI is proud of our member companies’ longstanding role as conscientious and responsible guardians of customers’ vulnerable personal information. 

Our industry has appropriately managed consumers’ confidential medical and financial information for more than 175 years. We remain strongly committed to the proper use and protection of consumer data.