Terms Used In Indiana Code > Title 27 > Article 2 > Chapter 21 - Use of Credit Information

• adverse action: means :

  Indiana Code 27-2-21-1

• affiliate: means a company that controls, is controlled by, or is under common control with another company. See Indiana Code 27-2-21-2
• applicant: means an individual who has applied with an insurer for coverage under a personal insurance policy. See Indiana Code 27-2-21-3
• commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-2-21-4
• consumer: means an:

  Indiana Code 27-2-21-5

• consumer reporting agency: means a person that, for a monetary fee or dues or on a cooperative nonprofit basis, regularly engages in the practice of assembling or evaluating consumer credit information or other information concerning consumers for the purpose of furnishing consumer reports to third parties. See Indiana Code 27-2-21-6
• credit information: means credit related information:

  Indiana Code 27-2-21-7

• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• credit report: means a written, an oral, or another communication of information by a consumer reporting agency concerning a consumer's creditworthiness, credit standing, or credit capacity that is used or expected to be used or collected as a factor to determine personal insurance policy premiums, eligibility for coverage, or tier placement. See Indiana Code 27-2-21-8
• department: refers to the department of insurance created by IC 27-1-1-1. See Indiana Code 27-2-21-9
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• insurance producer: has the meaning set forth in Indiana Code 27-2-21-10
• insurance score: means a number or rating that is derived from an algorithm, computer application, model, or other process that is based on credit information for the purpose of predicting the future insurance loss exposure of an individual consumer. See Indiana Code 27-2-21-11
• insured: means an individual entitled to coverage under a personal insurance policy. See Indiana Code 27-2-21-12
• insurer: refers to an insurer (as defined in IC 27-1-2-3) that issues a personal insurance policy. See Indiana Code 27-2-21-13
• Month: means a calendar month, unless otherwise expressed. See Indiana Code 1-1-4-5
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• personal insurance policy: means a policy that:

  Indiana Code 27-2-21-14