Nevada Revised Statutes Section 686A.710 - Insurance

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. Standardized explanations provided by consumer reporting agencies are deemed to comply with this section.

Last modified: February 27, 2006