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AICO FINANCIAL, LLC. places special emphasis on providing its customers with high-quality insurance products and exceptional customer service while safeguarding the confidentiality and security of personal data. Under new legislation, it is mandatory for us to provide our practices regarding the Privacy Policy in writing once a year.
Personal Information We Maintain, its Origin, and How We Manage It:
We collect essential personal data to manage our operations, including names, social security numbers, addresses, phone numbers, employment histories, claims histories, medical backgrounds, and financial statuses. This information is obtained from requests or transactions made with us, as well as from other relevant transactions. We also obtain it from consumer reporting companies, public records, and data collection agencies.
Regarding the Disclosure of Personal Information, AICO FINANCIAL, LLC. does not share personal data with non-affiliated companies or organizations, except in the situations described below. However, in compliance with laws and unless you provide prior authorization, we may provide data from our records to individuals or organizations such as: business collaborators, insurance support entities, institutions conducting actuarial or research studies, other insurers in relation to a transaction you have requested, competent authorities required by law, and individuals requesting information under a court or administrative order.
Information Subject to Disclosure:
In the future, we may share your personal information unless you express a preference not to do so for promotional purposes. These rights are referred to as "Exclusion Rights" in our Policy.
Individuals and Entities to Whom We Disclose Information:
In the future, we may disclose your personal information to third parties as detailed below, subject to your preferences indicated in your Exclusion Rights:
1. Financial service providers, including banks, mortgage companies, mortgage brokers, consumer credit agencies, life insurers, credit insurers, risk insurers, auto insurers, investment advisors, and similar entities, as well as agents, brokers, and real estate appraisers.
2. Companies unrelated to the financial sector, such as consumer discount clubs, companies offering consumer products, and businesses providing consumer services.
3. Other entities, such as charitable organizations and associations.
Even if you choose to exercise your Exclusion Right, we may, under circumstances allowed by law, share information with other third parties. These third parties may include, but are not limited to, lawyers, accountants, auditors, regulators, advisors, and the company's quality control consultants. We may share information, for instance, to process your insurance application, in cases of suspected fraud, or to protect your rights related to obtaining insurance.
Your Exclusion Rights Regarding Non-Affiliated Third Parties:
If you prefer not to disclose your confidential personal information to non-affiliated third parties, you can exercise your Exclusion Right and request that we refrain from doing so (except in situations allowed by laws and as previously mentioned). To do so, call 787-931-0058 within the next 30 days after receiving this notice or complete the attached form called Exclusion Request. If you do not exercise this right within that period, it will be assumed that you authorize the disclosure of such information. However, remember that you can exercise the Exclusion Right at any time.
Your Exclusion Right Regarding Affiliated Companies:
Even if you exercise your Exclusion Right, we may still share information about our direct transactions and experiences with you. Unless you exercise the Exclusion Right, we may also share with our affiliated companies other information about you that we have obtained from third parties. This may include:
1. Information obtained from your application, such as age, gender, marital status, number of dependents, assets, debts, income, employment details, address, and the address of the property securing your loan.
2. Information obtained from consumer reports, such as your credit history, credit score, financial situation, and credit history, including any bankruptcies or foreclosures.
3. Information to verify statements made by you, such as income verifications, employment, and open lines of credit with other institutions.
4. Information obtained from individuals regarding your employment, credit, or any other relationship with you, such as employment history with your employer or credit history with other financial institutions.
Our Affiliates with Whom We May Share this Information are as Follows:
We may share this information with the following affiliated companies:
1. Financial service providers, including banks, mortgage companies, consumer credit agencies, life insurers, credit insurers, risk insurers, auto insurers, investment advisors, and similar entities, as well as agents, brokers, and real estate appraisers.
2. Companies unrelated to the financial sector, such as relocation companies, direct sellers, merchants, and companies providing consumer services.
If you wish to exercise your Exclusion Right regarding the Exchange and Distribution of Information with our affiliated companies, you can call 787-931-0058 within the next 30 days after receiving this notice or complete the attached form called Exclusion Request. If you choose to exercise your Exclusion Right via phone, we will send you written confirmation via postal mail. If we do not receive the Exclusion Request form or a phone call within that period, it will be understood that you authorize the disclosure of such information. Nevertheless, remember that you can exercise the Exclusion Right at any time.
This Exclusion Right applies only to the specific insurance number you provide during your phone call or include in the Exclusion Request form. This right will be valid for both you and any co-borrower of your loan.
Former Customers:
In the event that your relationship with us concludes, your personal data will continue to be protected as required by local and federal laws and regulations, as well as in accordance with our privacy policies detailed in this important notice. However, if a former customer establishes a new relationship with us, the previously exercised Exclusion Right during the prior relationship will not apply to the new interaction or transaction.
Protection of Your Personal Information:
We limit access to your information to employees who need it to provide the requested insurance services and products or to comply with local and federal laws and regulations. When we share personal information with companies working on our behalf, we ensure that these companies adhere to our privacy standards and maintain the confidentiality of the information through confidentiality agreements, as required by law.
Except in the situations mentioned in this privacy policy, we will not disclose or use your insurance-related information unless you authorize us to do so in writing. If we need to disclose or use your insurance information, we will send you an Authorization Request by mail, which you will need to sign, date, and return. This authorization will be valid for one year unless you notify us in writing and signed of its revocation.
Within our company, your personal information will only be accessible to individuals who need access to it to fulfill your needs. Additionally, we notify individuals with access to this information about the importance of safeguarding it, and we have implemented physical, electronic, and procedural security measures to protect it. Your information will only be available to employees of other companies when necessary to manage your policy and/or process your claims.
AICO FINANCIAL, LLC. is committed to not disclosing or using information related to your health unless you have provided written authorization or in compliance with existing laws and federal and state regulations. The authorization form we will send you, signed and dated, will be valid for one year. However, you have the authority to revoke this authorization at any time by sending a written, signed, and dated notice.
The Exclusion Right will remain in effect unless you revoke it in writing or send us a communication via email.
At AICO FINANCIAL, LLC., we strive to maintain our records as accurate as possible. We work diligently to keep your information precise and are ready to make necessary changes when you communicate them to us. However, we have no control over the accuracy and truthfulness of the information provided by third parties, and in the event that you believe the information we have received from third parties is incorrect, it may be necessary for you to notify those third parties accordingly. If you wish, you could request the name and address of any consumer reporting company from which we have obtained a report about you.
Please be informed that we reserve the right to modify or supplement this privacy policy at any time. In the event of significant changes, we will provide our current customers with an updated notification detailing the new regulations.