What does the term 'nonpublic personal information' refer to?

The term 'nonpublic personal information' specifically refers to details that are not intended for public disclosure and are typically sensitive in nature. This type of information is private and can include personal identifiers such as Social Security numbers, financial information, medical records, and other data that could impact an individual's privacy and security. Protecting nonpublic personal information is crucial in the context of financial services, including life insurance, as it helps safeguard consumers from identity theft and unauthorized access to their personal details.

Publicly available data, general company data, and statistics about consumer spending do not fall under this category because they either lack the private nature that justifies their classification as nonpublic or are meant for broader public use. Understanding the significance of nonpublic personal information helps ensure compliance with regulations aimed at protecting consumer privacy rights, such as those established under laws like the Gramm-Leach-Bliley Act.