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Principle Five: Limiting Use, Disclosure and Retention ~ Full Text

5 PRINCIPLE FIVE: LIMITING USE, DISCLOSURE AND RETENTION

Personal information shall not be used or disclosed for purposes other than those for which the information was collected, except with the consent of the Customer or as required by law. Personal information shall be retained for only as long as necessary for the fulfillment of those purposes.

5.1 There are situations specific to its business where Wawanesa may provide personal information to others, as dictated by prudent insurance practices. Examples of such situations include the following:

  1. Risk-Sharing. As part of the underwriting and claims handling process, Wawanesa may transfer personal information to other insurance companies, including reinsurance companies which share in the risk. This would include situations where the Customer has made a fraudulent application for, or renewal of, a policy of insurance.
  2. Information Services. Wawanesa may transfer personal information to providers of information processing and storage, programming, printing, mailing and distribution services for underwriting, claims, classification and rating purposes.
  3. Insurance Services. Wawanesa may provide personal information to businesses that provide goods and services to insurance companies and/or their Customers, such as loss control managers and claims adjusters.
  4. Insurance Intermediaries. Wawanesa may provide personal information to its insurance intermediaries, such as brokers and agents.

In these situations, the third parties will be provided with only the information appropriate to the circumstances.

5.2 If Wawanesa uses personal information for a new purpose, it will document this purpose.

5.3 Wawanesa has implemented and will maintain policies and procedures with respect to the retention of personal information, including minimum and maximum retention periods. Personal information that has been used to make a decision about a Customer will be retained for a sufficient period to permit the Customer access to the information after the decision has been made. Wawanesa may be subject to legislative requirements with respect to retention periods.

5.4 Personal information that is no longer required to fulfill the identified purposes will be destroyed, erased or made anonymous. Wawanesa has implemented and will maintain guidelines and procedures to govern the destruction of personal information.




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