MI SB0950

Requires insurance licensees to provide customers with a clear and conspicuous notice of their privacy policies and practices at least once annually during the customer relationship, with "annually" defined as at least once in any 12-month period of the licensee's choosing, applied consistently.

Exempts licensees from providing annual notices if they only disclose nonpublic personal information under sections 535, 537, or 539 and their privacy policies have not changed since the previous notice provided to the customer.

Exempts licensees from providing annual notices to former customers.

Takes effect 90 days after enactment.