What is the primary role of the Insurance Information and Privacy Act?

The primary role of the Insurance Information and Privacy Act is to protect consumer data. This legislation is designed to ensure that individuals' personal and potentially sensitive information gathered by insurance companies is handled with care and confidentiality. The Act sets forth guidelines for how insurers can collect, use, and disclose personal information, thereby aiming to secure consumers' privacy rights in the insurance process.

The emphasis on data protection is crucial in an era where personal information is frequently shared online and could be exposed to unauthorized access or misuse. By establishing regulations around the treatment of consumer data, the Act promotes trust in the insurance industry, which is essential for maintaining a solid relationship between consumers and insurance providers.

Other aspects like policy pricing, agent commissions, and coverage limits are significant in the insurance industry but do not fall under the primary focus of this Act, which is strictly centered on the privacy and protection of consumer information.