Rule 19-1-31.07 - Notice RequirementsA. If an insurer writing personal insurance uses credit history or an insurance score in underwriting or rating an applicant, the insurer shall disclose, either on the insurance application or at the time the insurance application is taken, that it may obtain credit history and/or an insurance score in connection with such application. Such disclosure shall be either written or provided to an applicant in the same medium as the application for insurance. The insurer need not provide the disclosure statement required under this section to any insured on a renewal policy, if such insured has previously been provided a disclosure statement. Use of the following example disclosure statement constitutes compliance with this subsection: "In connection with this application for insurance, we may review your credit history or obtain or use a credit-based insurance score based on the information contained in that credit history. We may use a third party in connection with the development of your insurance score."
B. Any adverse action by an insurer as defined in Section 4.A. of this Regulation shall comply with the notice requirements of the Fair Credit Reporting Act, 15 U.S.C. § 1681.C. If an insurer takes an adverse action based upon credit history or an insurance score, the insurer shall provide notification to the applicant that an adverse action has been taken in accordance with the Fair Credit Reporting Act, 15 U.S.C. § 1681m(a). The notification may be done in writing, orally or by electronic means and must include the following:1. The name, address and telephone number of the consumer reporting agency, including a toll-free telephone number if it is a nationwide consumer reporting agency that provided the report.2. A statement that the consumer reporting agency did not make the adverse decision and is not able to explain why the decision was made.3. A statement setting forth the applicant's right to obtain a free disclosure of the applicant's report from the consumer reporting agency.4. A statement setting forth the applicant's right to dispute directly with the consumer reporting agency the accuracy or completeness of any information provided by the consumer reporting agency.5. A statement 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 an adverse action. Such notification shall include a description of up to 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 explanation requirements of this subsection. Standardized credit explanations provided by consumer reporting agencies are deemed to comply with this subsection.19 Miss. Code. R. 1-31.07
Miss. Code Ann. § 83-5-29 (Rev. 2011)