Which federal act requires insurers to provide privacy notices to consumers?

The Gramm-Leach-Bliley Act (GLBA) is the federal act that mandates insurers, as well as other financial institutions, to provide privacy notices to consumers. This legislation was designed to protect consumers' personal financial information and require institutions to explain their information-sharing practices. Under the GLBA, institutions must inform consumers about the types of information they collect, how this information is used, and the measures taken to protect that data. The act emphasizes transparency and gives consumers certain rights regarding their personal information, thereby ensuring they are aware of and can control how their information is shared with third parties.

The other acts mentioned have different focuses. The Fair Credit Reporting Act centers on consumer reporting and the use of credit information. The Health Insurance Portability and Accountability Act primarily addresses the protection of health information, while the Dodd-Frank Act focuses on financial regulation and consumer protection in various aspects of financial services but does not specifically address privacy notices in the same manner as GLBA.