Under a distribution agreement between Landsbankinn and TM, information identifying TM customers is shared with Landsbankinn. TM has entrusted Landsbankinn with the sale and servicing of insurance products. In order to perform this role, Landsbankinn is given access to information on whether individuals hold insurance policies with TM. When information is shared, care is taken to ensure that no more information is disclosed than is necessary. Accordingly, only Bank employees who have received the necessary education and training as insurance advisors have access to information on the type of insurance, the sum insured and the policy term. Other Bank employees, including Customer Service Centre staff, have access to information on whether an individual holds insurance with TM but do not have access to the more detailed information available to insurance advisors, as described above.

Landsbankinn does not share information about its customers with TM unless requested by the customer or the customer has consented to such sharing. Where information is shared on the basis of customer consent, the scope of the consent is clearly defined, specifying precisely what information is shared and for what purpose.