The Gramm-Leach-Bliley Act requires what from insurance companies?

The Gramm-Leach-Bliley Act (GLBA) focuses primarily on the protection of consumers' private financial information and the disclosure of privacy policies by financial institutions, including insurance companies. One of the significant requirements of the GLBA is that insurance companies must disclose their privacy policies to customers, detailing how their personal information is collected, used, and shared with affiliates and third parties. This requirement is in place to ensure that consumers are informed about the handling of their sensitive information and to provide them with more control over their personal data.

This aligns with the goals of the GLBA to promote consumer transparency and protect privacy in the financial services sector. Therefore, the requirement for insurance companies to disclose how customer information may be shared directly reflects the intent of the legislation to safeguard personal data.

The other options do relate to important aspects of regulatory compliance and consumer protection but are not specific requirements outlined by the Gramm-Leach-Bliley Act. Options regarding anti-money laundering practices, the control of protected health information, and the continuation of benefits under health insurance plans pertain to different regulations and are not central to the GLBA's mandate for privacy disclosures.