(a) In this section:
(1) “Customer” means a person with an investment, security, deposit, trust, or credit relationship with a financial institution.
(2) “Nonpublic customer information” means information relating to an individual that is derived from a bank record, including information concerning insurance premiums, the terms and conditions of insurance coverage, insurance expirations, insurance claims, and insurance history of the individual. The term does not include a customer’s name, address, or telephone number.
(b) A person may not use nonpublic customer information for the purpose of selling or soliciting the purchase of insurance, or provide nonpublic customer information to a third party for the purpose of another’s selling or soliciting the purchase of insurance, unless:
(1) it is clearly and conspicuously disclosed that the nonpublic customer information may be used for that purpose; and
(2) the customer has been provided an opportunity to object before the time the information is used.