Employers and insurance companies should not be allowed access to genetic information. It is currently illegal for employers to check for some medical conditions (like diabetes) while completing physicals, yet each year some employers are still caught doing this. It is difficult to guess what else they would begin to check for without permission if they had access to our genetics.
The world is changing, and now we are able to know much more about ourselves and our possibility of getting sick. For example, it's possible for women to find out if they are at a much greater risk of breast and ovarian cancers. This information being known by insurance and employers could cause discrimination. For example, an insurance company might refuse benefits or put riders on one's insurance policy, limiting their coverage. An employer might discriminate against someone at high propensity for disease, worrying that the employee will be unable to work. This information should remain private.