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DATA PRIVACY STATEMENT


This Data Privacy Statement (“Statement”), which has been prepared in relation to R.A. 10173, otherwise known as the Data Privacy Act of 2012, and its implementing rules and regulations, describes how personal information are collected, processed, disclosed, and stored by LBP (LAND BANK OF THE PHIL.) Insurance Brokerage, Inc. (LIBI) and is applicable to its employees and all persons who apply for or avail of any of LIBI’s insurance products and services. All employees, officers ,customer/clients are enjoined to comply with and to share in the responsibility to secure and protect personal information collected and processed by LIBI in pursuit of legitimate purposes of servicing or processing  insurance products .

 

DATA TO BE COLLECTED

To provide the client with LIBI’s products and services and/or to implement client transactions, LIBI shall collect personal information from the client which may include, but are not limited to:

• Name, Age, Date/Place of Birth, Gender, Civil Status, Nationality
• Address and Contact Details
• TIN/SSS/GSIS No.
• Financial Background
• Employment History
• Name of Employer
• Nature of Work/Self Employment/Business
• Source of Funds
• Status of Pending Civil/Criminal Cases (if any)

If deemed necessary, LIBI may request to verify the client’s personal information or seek additional information from regulatory, judicial, tax authorities, or credit bureaus.

 

PURPOSES OF DATA PROCESSING

 LIBI shall process the client’s personal information for the following purposes:

To enable LIBI to acquire/cover or renew an insurance policy

To assist the client and assess his/ her ongoing needs for insurance coverage

To assess the client need for other products of LIBI.

To ensure that Client information is accurate and up-to-date

To comply with know-your-customer information requirements.

To provide ease of contacting/communication with clients;

To evaluate client’s eligibility for LIBI’s products and services

 

METHOD OF PROCESSING PERSONAL DATA

Processing refers to the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure or destruction of personal information. If necessary for the efficient delivery of LIBI’s products and insurance services, the processing of personal data may be outsourced to third party service providers subject to compliance with this Statement and the provisions of the Data Privacy Act and its Implementing Rules and Regulations.

LIBI shall collect personal information through, but not limited to, any of the following:

• Face-to-face and/or telephone conversation with LIBI’S personnel
• Accomplishment and/or signing of forms/documents

 

WHEN DO WE COLLECT PERSONAL INFORMATION

LIBI collects information upon the client’s application for availment of insurance coverage and upon accomplishment of the application form for employment.  

 

RECIPIENTS OF INFORMATION

We are committed to holding our clients/ applicants personal information in strict confidence. We shall not disclose any such information unless authorized by our  clients/applicants  as required by law

 

RETENTION AND DISPOSAL

Retention and disposal of personal information shall be made in accordance with the Records Disposal Policy and Records Disposition Schedule of LIBI and with accordance of the National Archives of the Philippines under RA 9470.

 

HOW WE SAFEGUARD PERSONAL INFORMATION

In accordance with the Data Privacy Act No. 10173 or the Data Privacy Act 2012 (DPA), its implementing Rules and Regulations, and other relevant policies including issuances of the National Privacy Commission. LIBI, its employees and representatives shall handle personal information with utmost care and adhere to appropriate organizational, physical, and technical measures to maintain the confidentiality, integrity and security of all personal information in its possession.

 

CLIENT’S RIGHTS

In accordance with the Data Privacy Act, the Client has the right to:

• Be informed whether their personal information shall or have been processed;
• Have reasonable access to their personal information;
• Require LIBI to update their personal information;
• Right to suspend, withdraw, or order the blocking, removal, or destruction of personal information if LIBI is not required to retain it by law or for legitimate business purposes and subject to the conditions for the legitimate exercise of the said rights under the Data Privacy Act and its IRR.

 

DATA PROTECTION OFFICER

Any inquiry or request for information regarding this Statement may be addressed to the following:

Data Protection Officer
12/F SYCIP Law Center Building
105 Paseo de Roxas St., Legaspi Village, Makati City
(+632) 840-4108/551-7118
Dpo@lbp-insurance.com