INFORMATION WE COLLECT
KBPI collects information about our client firms and the employees of these firms only when we reasonably believe that the information is necessary to assist us in managing your benefit programs and accounts. Among reasons we collect certain information is to identify you when we conduct transactions or inquiries on your behalf or to assist you in enrolling, amending coverages, or transferring coverages from one carrier to another. Some information that we collect may also be used to comply with certain laws and regulations that may apply and to help us understand your insurance needs as we recommend changes in the design of your programs in order to improve our services and the programs we offer. When appropriate, we will also use your information to administer your programs and to provide you with information concerning products and services we feel may best serve your ongoing cost and benefit objectives. Non-public personal information about you is collected from sources including the following:
- From individual and group coverage applications and other forms, correspondence and conversations (examples include but are not limited to name, address, gender, age and date of birth, social security number, dependent names and related information, nature of your business, income levels, etc.)
- From your transactions and inquiries with us (examples include claim inquiries, assistance with membership changes, changes of address, phone numbers, marital status, past payment histories, past rate histories etc.)
INFORMATION WE DISCLOSE
We understand that you expect that the personal information you have entrusted to KBPI is handled with great care. We may share non-public information with insurers or their intermediaries when processing requests for quotes and applications for coverage on your behalf. The types of information we may disclose is described above under “Information We Collect”. KBPI does not share or disclose non-public personal information about our client firms or the employees of these firms with non-affiliated third parties except as permitted by applicable laws. In compliance with applicable laws, we may share non-public personal information with non-affiliated parties that perform services on our behalf or with agencies or affiliates with which we have joint marketing agreements. In all cases we will do our utmost to keep all information strictly confidential and use it for only the purpose for which it was intended. We may also provide information in response to a subpoena, to prevent fraud, or to comply with an inquiry by government agencies or regulators. The personal information of former clients is treated in the same manner as is information of current clients.
CONFIDENTIALITY AND SECURITY
KBPI restricts access to non-public personal information about you to those employees who need to know the information in order to provide access to the programs and services that you have asked that we make available and that we have agreed to provide In addition, KBPI cannot accept faxes, voicemails or other telephone messaging requesting new coverage binding, additions or changes to, or elimination of either group or individual coverage.
The following disclosure is provided pursuant to New York State Department of Insurance (NYSDOI) Regulation No. 194 (11NYCRR 30.1 et seq.):
KBPI is an insurance broker/consultant firm licensed by the State of New York. Insurance broker/consultants are authorized by their licenses to confer with insurance purchasers about the benefits, terms, and conditions of insurance contracts; to offer advice concerning the substantive benefits of particular insurance contracts; to sell insurance; and to obtain insurance for purchasers. The role of the broker/consultant in any particular transaction typically involves one or more of these activities.
Compensation will be paid to the broker/consultant, based upon the insurance contract that the broker/consultant sells. Depending on the insurer(s) and the insurance contract(s) the purchaser selects, compensation will be paid by the insurer(s) selling the insurance contract or by another third party. Such compensation may vary depending upon a number of factors, including the insurance contract(s) and the insurer(s) the purchaser selects. In some cases, other factors, such as the volume of business a broker/consultant provides to an insurer or the profitability of insurance contracts a broker/consultant provides to an insurer may also affect compensation.
The insurance purchaser may obtain information about compensation expected to be received by the broker/consultant based in whole or in part on the sale of insurance to the purchaser and, (if applicable) compensation expected to be received based in whole or in part on any alternative quotes presented to the purchaser by the broker/consultant, by requesting such information from the broker/consultant.