SB 354: Insurance Information and Privacy Protection Act.

<p>The bill revises California's Insurance Information and Privacy Protection Act, establishing new standards for insurance licensees and their third-party service providers regarding the collection, processing, retaining, or sharing of consumers' personal information. It authorizes the processing of consumer data for specific purposes, including insurance transactions, and requires clear privacy notices to be provided to consumers at certain times.</p> <p>The bill mandates that a licensee must obtain consent from consumers before taking specified actions involving their personal information and outlines how such consent is obtained. Licensees are required to develop written records retention policies and schedules, provide detailed information if an adverse underwriting decision is made, and allow consumers to correct or delete inaccuracies in their data.</p> <p>The bill also prohibits…