Nev. Rev. Stat. § 686A.710

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 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.

NRS 686A.710

Added to NRS by 2003, 2804; A 2007, 731
Added to NRS by 2003, 2804; A 2007, 731