So McDonalds is going to sell their customer data to insurance companies so that insurance companies can raise premiums on McDonalds customers?

While I agree that the data sharing has gotten way out of hand in the pursuit of profits, only the stupidest of companies would sell their customers out in this way.

No, McDonald's will give their customers' data to marketing or ad companies like Google so that these companies can get McDonalds' customers to go to McDonald's more.