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QBE Lenders Mortgage Insurance ("QBE LMI") Limited Privacy Policy Statement
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QBE LMI’s Privacy AssuranceQBE LMI values and respects your right to privacy of your personal information. This privacy statement explains how QBE LMI ensures your right is maintained when communicating and dealing with QBE LMI.
QBE LMI applies the National Privacy Principles in the Privacy Act 1988 (the ‘Act’) in meeting these obligations to you.
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Personal information we collect (What we collect)QBE LMI collects personal information when it:
- provides lenders' mortgage insurance and for related business activities like reinsurance, and securitizations,
- engages agents, contractors and suppliers, and
- pursues marketing prospects and opportunities.
This information can include loan applications, contact details and identification information, financial information including credit history, reports from credit reporting agencies and banking details. For legal reasons information collected may be retained by QBE LMI after a transaction or relationship has concluded.
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How your personal information is collected by QBE LMI (How we collect)In most cases QBE LMI collects your personal information when offering lenders mortgage insurance and in those circumstances your personal information is provided by the lender bank, mortgage broker, building society or credit reporting agencies to us.QBE LMI values and respects your right to privacy of your personal information. This privacy statement explains how QBE LMI ensures your right is maintained when communicating and dealing with QBE LMI.
QBE LMI applies the National Privacy Principles in the Privacy Act 1988 (the ‘Act’) in meeting these obligations to you.
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Employee InformationEmployee records are exempt from the privacy principles. However, appropriate levels of confidentiality are maintained in protecting this information.
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Purposes for collecting your personal information (Why we collect)When QBE LMI offers lenders mortgage insurance, QBE LMI collects your personal information to:
- assess the risk of:
- providing lenders mortgage insurance to the lender;
- you defaulting on your obligations to the lender;
- you being unable to meet a liability that might arise under a guarantee, in respect of mortgage finance given (or to be given) by the lender to another person;
- administer or vary any lenders' mortgage insurance cover provided, including enforcing the mortgage in the place of the Lender;
- conduct risk assessment and management involving securitisation, credit scoring, portfolio analysis, reporting, fraud prevention and claim recovery.
QBE LMI may also use your personal information in meeting its regulatory and compliance obligations.
When engaging suppliers, agents, and contractors QBE LMI will use fair means to obtain the necessary personal information required to satisfy QBE LMI’s requirements given the nature of the contract.
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Disclosures of your personal information (Who the information may be disclosed to)Where information is collected for mortgage insurance purposes QBE LMI may disclose personal information to:
- its related companies, whether in Australia or overseas;
- the Lender;
- reinsurers;
- credit reporting and ratings agencies;
- parties for the purpose of securitisation;
- a guarantor or potential guarantor;
- our service providers (including marketing companies, data consultants and IT contractors), our agents, contractors, and external advisers;
- your legal and financial advisers;
- government and other regulatory bodies;
- mercantile agents if you default on your obligations to the Lender or to payment system operators; and
- other financial institutions and credit providers.
We may also need to seek from a credit reporting agency and use:
- commercial credit information (concerning your credit worthiness or history);
- consumer information; and
- information on collection of overdue payments.
Generally, and in relation to mortgage insurance, QBE LMI may also need to exchange information between contractors, suppliers, and depending on the nature of the information from other credit providers, and advisors. If personal information has been obtained in relation to mortgage insurance, and if necessary, QBE LMI will share your information with a credit reporting agency.
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Access and AccuracyIf you believe any information QBE LMI holds about you may be inaccurate please contact us. You have a right to access any personal information that QBE LMI holds about you. Sometimes there may be a reason why access will not be possible. If that is the case, you will be told why.
Please contact our Privacy Officer at QBE LMI if you require access to your personal information.
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SecurityQBE LMI uses a variety of physical and electronic security measures, including restricting physical access to its offices, in our endeavours to protect your personal information from misuse or loss, and from unauthorized access, modification, and disclosure.
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ComplaintsIf you are concerned that your privacy may have been interfered with in a communication or dealing you have had with QBE LMI, you should contact our Privacy Officer.
QBE LMI’s contact details are:
QBE Lenders’ Mortgage Insurance Limited
Level 21, 50 Bridge Street
Sydney, NSW 2000
Toll free phone: 1300 367 764
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