AMENDMENT
to the Reinsurance Agreements between
CUNA MUTUAL, LIFE INSURANCE COMPANY of Waverly, Iowa,
("COMPANY")
and
SWISS RE LIFE AND HEALTH AMERICA, INC., a Connecticut domiciled insurer,
("REINSURER").
All existing Reinsurance Agreements (the "Agreements") between CUNA Mutual Life
Insurance Company ("COMPANY") and Swiss Re Life and Health America, Inc.
("REINSURER"), are hereby amended by the addition of the following Article of
Confidentiality and Sharing of Customer Information:
ARTICLE OF CONFIDENTIALITY AND SHARING OF CUSTOMER INFORMATION
The Parties acknowledge and agree that it may be necessary for COMPANY to share
customer information ("Customer Information") with REINSURER in order for
REINSURER to meet its obligations under the Agreements. With respect to the
sharing, use add protection of Customer Information, REINSURER agrees to the
following:
(a) CONFIDENTIALITY AND RESTRICTIONS ON REDISCLOSURE OF CUSTOMER INFORMATION.
REINSURER agrees to hold in strict confidence Customer Information obtained
from COMPANY during the Agreements. REINSURER agrees not to disclose
Customer Information, in any form or medium, to any affiliated or
nonaffiliated person, firm or corporation except as necessary to perform
services under the Agreements or as may be required or permitted by law.
The parties acknowledge and agree that disclosing Customer Information to
effectuate, service or administer a Customer transaction shall not be
considered a breach of the confidentiality obligations created hereunder.
To the extent that REINSURER contracts with a third party that obtains
Customer Information in order to provide services under the Agreements,
REINSURER agrees to obtain contractual confidentiality protections to
require the third party to hold Customer Information in strict confidence
and not disclose it to any person unless required by law. REINSURER agrees
to return all Customer Information to COMPANY either upon request or
termination of the Agreements. REINSURER agrees to comply with applicable
privacy laws and regulations including, but not limited to, the Xxxxx-
Xxxxx-Xxxxxx Act, Public Law 106-102 (1999) as set forth in 15 U.S.C.A.
[SEC]6802, as amended and to comply with applicable changes in such laws
and regulations as these occur and become effective.
(b) USE OF CUSTOMER INFORMATION. REINSURER agrees to use Customer Information
only to provide services hereunder and not to use such information for any
other purpose.
(C) OBLIGATION TO MAINTAIN SECURITY OVER CUSTOMER INFORMATION. REINSURER agrees
to implement and maintain reasonable and customary security measures to
safeguard Customer Information. Such measures shall include, but not be
limited to, requiring employees who will have access to such information to
agree to the confidentiality requirements of this Article.
(D) CONFIDENTIALITY OBLIGATIONS SURVIVE TERMINATION OF THE AGREEMENT. The
obligations of REINSURER set forth in this Article shall survive the
termination of the Agreements.
In Witness Whereof, the undersigned parties have executed this Amendment to be
effective July 1, 2001.
CUNA MUTUAL LIFE INSURANCE COMPANY SWISS RE LIFE AND HEALTH AMERICA, INC.
By: /s/ Xxxxxxx X. Xxxxx By: /s/ Xxxxxxx Xxxxx
------------------------------ ------------------------------
NAME: Xxxxxxx X. Xxxxx NAME: Xxxxxxx Xxxxx
---------------------------- ------------------------------
TITLE: VP, Life & Health Products TITLE: Second VP
--------------------------- ------------------------------
DATE: 6/24/02 DATE: 6/25/02
---------------------------- ------------------------------
SWISS RE LIFE & HEALTH
[LOGO OF SWISS RE LIFE & HEALTH]
XXXXXXX X. XXXXX
Second Vice President
Life Administration, Contracts
Xx. Xxxxxxxx X. Xxxxxx Swiss Re Life & Health America Inc.
Actuarial Specialist 000 Xxxx Xxxxx Xxxx
CUNA Mutual Life Insurance Company Stamford, Connecticut
0000 Xxxxxxxx Xxx XXX 00000
Xxxxxxx, XX 00000
U.S.A. Telephone (000) 000-0000
Fax (000) 000-0000
E-mail Xxxxxxxx_Xxxxx@xxxxxxx.xxx
June 27, 2001
Dear Xx. Xxxxxx:
The Financial Services Modernization Act of 1999/Xxxxxx-Xxxxx-Xxxxxx ("GLB")
requires all insurance companies and other financial institutions to formalize
the manner in which they ensure that consumer information is protected.
Maintaining consumer privacy has always been a goal of Swiss Re Life & Health
America Inc. ("Swiss Re"). Thus, Swiss Re's commitment to consumer privacy is
not new. However, as a result of GLB, we have the opportunity to share our
practices with our clients.
Swiss Re agrees that it will abide by the following statement in connection with
all reinsurance agreements between Swiss Re and your company:
Swiss Re and all of its representatives and service providers will
hold all private, non-public policyholder information furnished to
Swiss Re for the purpose of providing services to you under any
reinsurance agreement in strict confidence. By reference to private,
nonpublic policyholder information, Swiss Re means all policyholder or
other consumer financial or health information furnished to or obtained
by Swiss Re, its representatives or its service providers in order to
carry out its duties and obligations under a reinsurance agreement with
your company. Swiss Re will only use such information for the purpose
of performing services under a reinsurance agreement with your company.
Such information will only be disclosed to a third party for the
purpose of carrying out Swiss Re's duties under a reinsurance agreement
with your company, to retrocessionaires or Swiss Re service providers
or as required or permitted by law. Swiss Re will take reasonable steps
necessary to protect such information from unauthorized or inadvertent
disclosure.
Swiss Re greatly values the relationship we have with your company. We consider
this statement a unilateral addendum to all reinsurance agreements under which
your company transacts business with Swiss Re. Please keep this letter with all
reinsurance agreements between Swiss Re and your company.
This letter in intended to answer your questions regarding our privacy practices
and simplify your relationship with Swiss Re. As always we appreciate the
opportunity to provide you service.
Sincerely
/s/ Xxxxxxx X. Xxxxx
