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