When companies can share your financial information without asking

(a) The requirements for initial notice under section 431:3A-201, for the opt out in sections 431:3A-204 and 431:3A-301, and for service providers and joint marketing in [section] 431:3A-401 shall not apply if the licensee discloses nonpublic personal financial information as necessary to effect, administer, or enforce a transaction that a consumer requests or authorizes, or in connection with: (1) Servicing or processing an insurance product or service that a consumer requests or authorizes; (2) Maintaining or servicing the consumer’s account with a licensee, or with another entity as part of a private label credit card program or other extension of credit on behalf of the entity; (3) A proposed or actual securitization, secondary market sale including sales of servicing rights, or similar transaction related to a transaction of the consumer; or (4) Reinsurance, stop loss, or excess loss insurance. (b) As used in this section, "necessary to effect, administer, or enforce a transaction" means that the disclosure is: (1) Required, or is one of the lawful or appropriate methods, to enforce the licensee’s rights or the rights of other persons engaged in carrying out the financial transaction or providing the product or service; or (2) Required, or is a usual, appropriate, or acceptable method: (A) To carry out the transaction or the product or service business of which the transaction is a part, and to record, service, or maintain the consumer’s account in the ordinary course of providing the insurance product or service; (B) To administer, service the benefits, or process the claims relating to the transaction or the product or service business of which it is a part; (C) To provide a confirmation, statement, or other record of the transaction or to provide information on the status or value of the insurance product, or to service to the consumer or the consumer’s agent or broker; (D) To accrue or recognize incentives or bonuses associated with the transaction that are provided by a licensee or any other party; (E) To underwrite insurance at the consumer’s request or for purposes, as they relate to the consumer's insurance, of account administration, reporting, investigating, or preventing fraud or material misrepresentation, processing premium payments, processing insurance claims, administering insurance benefits including utilization review activities, participating in research projects, or as otherwise required or specifically permitted by federal or state law; or (F) In connection with: (i) The authorization, settlement, billing, processing, clearing, transferring, reconciling, or collection of amounts charged, debited, or otherwise paid using a debit, credit or other payment card, check, or account number, or by other payment means; (ii) The transfer of receivables, accounts, or interests therein; or (iii) The audit of debit, credit, or other payment information.