The Life Insurance Cooperative of Puerto Rico, COSVI, values having you as our clients.
COSVI does not share our clients' private information with other institutions or external stakeholders. Below we will inform you of our policy related to the handling of your personal information that you share with us. Information about former customers is retained for as long as permitted by federal and local laws governing the financial industry.
a. COSVI will keep strictly confidential all the personal information that you share with us as a result of our business relationship.
b. COSVI limits access to your information only to those employees who provide services to you on our behalf, to serve your product and introduce you to other products and services that may be of value to you. Also, to comply with local or federal regulations of the financial industry.
Our policy is to require all employees and companies that provide services related to marketing campaigns on our behalf to keep customer information confidential. Our employees have been duly instructed not to violate the privacy rights of our clients. The companies that provide services to you on our behalf in marketing campaigns have been required by contract not to use the information for purposes other than those for which it was provided.
We maintain physical and electronic security measures to safeguard the confidentiality of your information as required by law and this policy.
c. COSVI will not disclose your personal information to any external organization or third party unless we have previously informed you, you have authorized it, or as required by law.
d. COSVI does not use or share medical information internally or externally for any purpose other than: insurance underwriting, selection and risk management or administration of the insurance policy or claim processing, or for the disclosure of information if has consented.
II. Safeguarding Personal Information
a. We have adopted policies and procedures designed to protect your personal information from unauthorized use or disclosure.
b. We have implemented physical, electronic and procedural measures to maintain the confidentiality and integrity of personal information in our possession and to prevent unauthorized access. These include, but are not limited to, procedures to control access to client records, security programs for our buildings, and information technology security measures such as the use of passwords, encryption, and firewalls. In addition, virus programs to detect the use of information.
c. Our policy is to allow our employees access to your personal information only if they have a business reason to use that information, such as administering, providing or developing our products and services.
III. Personal Information Collected
We collect information from you to help us serve your life insurance, disability, annuity and pension needs, to provide you with quality products and services, and to comply with legal and regulatory requirements. We consider all of your information in our possession to be personal information, even if you are no longer a customer. The personal information that COSVI collects from its clients varies depending on the products and services that are provided:
a. You voluntarily provide us with necessary personal information as part of the application process for insurance and other services. Information such as: name, address, telephone, profession or business, social security number.
b. Personal information we obtain from third parties depending on the type of policy or contract. In turn, we exchange information with certain agencies related to your insurance application or its renewal. Also, information related to you in relation to claims.