2015 Nevada Revised Statutes
Chapter 686A - Trade Practices and Frauds; Financing of Premiums
NRS 686A.710 - Notice requirements after taking adverse action.
If an insurer takes an adverse action based upon credit information, the insurer shall:
1. Provide notice to the applicant or policyholder that an adverse action has been taken, in accordance with the requirements of section 615(a) of the federal Fair Credit Reporting Act, 15 U.S.C. § 1681m(a).
2. Provide notice to the applicant or policyholder explaining the reasons for the adverse action. The reasons must be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer’s decision to take the adverse action. The notice must include a description of not more than four factors that were the primary influences of the adverse action. The use of generalized terms such as “poor credit history,” “poor credit rating” or “poor insurance score” does not meet the requirements of this subsection. The notice required by this subsection must be provided in a form approved by the Commissioner.
(Added to NRS by 2003, 2804; A 2007, 731)
Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
