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.
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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: 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. Purpose of Data Processing LIBI shall process the client’s personal information for the following purposes: Method of Processing Personnal 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: 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 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. Clients Rights In accordance with the Data Privacy Act, the Client has the right to: Data Protection Officer Any inquiry or request for information regarding this Statement may be addressed to the following: Data Protection Officer: Ma. Pacita C. Gopio
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