When is a new privacy notice not required if an existing customer acquires a new insurance product?

A new privacy notice is not required when the previous notice adequately covers the new product. This is based on the principle that privacy notices serve to inform customers about how their personal information will be used and shared, particularly in relation to the specific products they hold. If the existing privacy notice already provides comprehensive and accurate information regarding the handling of personal data for the new product, there is no need to issue a new notice.

In essence, if the terms and conditions regarding privacy remain consistent with what the customer has previously been informed about, the customer does not need redundant communication that may create confusion or clutter. This approach is also efficient for both the insurance provider and the customer, allowing for a streamlined process while maintaining transparency and compliance with privacy laws.