Last Chapter - regulations
if someone contests a consumer or investigative report, then the company must:
respond to the consumer's complaint
what is unique about investigative reports vs consumer reports
the customer's associates, friends, and neighbors provide the report's data
temporary license
-requires written examination -can be issued to designee when licensed agent enters actives US military service -can be issued to spouse of diseased agent
hearing for a cease and deist order must occur in how many days of order date?
15
within how many days of an investigative consumer report must an insurer notify the consumer in writing that the report will be obtained?
3
if a consumer REQUESTS additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply?
5 days
who is an insurance agent
A person authorized to sell, solicit and negotiate insurance contracts
what protects consumers against circulation of inaccurate or obsolete personal or financial information?
fair credit reporting act
Under the Fair Credit Reporting Act, individuals rejected for insurance due to information contained in a consumer report
must be informed the source of the report; not entitled to get a copy though
regulated areas of the insurance industry
trade practices, investments, agents, NOT COMMISIONS 1