Safeguards Rule & Agreement for Dealers

Safeguards Rule Vendor Compliance

The Federal Trade Commission’s (FTC) Safeguards Rule requires covered financial institutions to develop, implement, and maintain an information security program designed to protect customer information through administrative, technical, and physical safeguards.

‍(Source: https://www.ftc.gov/business-guidance/resources/ftc-safeguards-rule-what-your-business-needs-know)

‍

One of the Safeguards Rule requirements is that dealers “Oversee Service Providers” by:

1. Taking reasonable steps to select and retain service providers that are capable of maintaining appropriate safeguards for the consumer information at issue;
2. Requiring your service providers by contract to implement and maintain such safeguards; and
3. Periodically assessing your service providers based on the risk they present and the continued adequacy of their safeguards.
4. Monitoring service providers on an ongoing basis to verify they are maintaining adequate safeguards.

Sonsio Vehicle Protection is fully compliant with the Safeguards Rule

• Sonsio maintains a comprehensive information security program designed to comply with applicable Safeguards Rule requirements.
• Sonsio’s personnel receive ongoing information security and privacy training consistent with Sonsio’s information security program.
• We have designated Legal and Compliance contacts on staff to answer questions regarding the Safeguards Rule and Sonsio’s information security program.
• We have partnered with Mosiac Compliance Solutions as a resource if you need additional education or assistance for your organization.

Print/Download our Dealer Safeguards Agreement (PDF)

For more information, call 1.866.608.9836

‍