North Carolina General Statutes 58-39-60. Information concerning previous adverse underwriting decisions
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Terms Used In North Carolina General Statutes 58-39-60
- Adverse underwriting decision: means :
- Agent: has the meaning as set forth in N. See North Carolina General Statutes 58-39-15
- Individual: means any natural person who:
- Insurance institution: means any corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyd's insurer, fraternal benefit society, or other person engaged in the business of insurance, including health maintenance organizations and medical, surgical, hospital, dental, and optometric service plans, governed by Articles 65 through 67 of this Chapter. See North Carolina General Statutes 58-39-15
- Insurance transaction: means any transaction involving insurance primarily for personal, family, or household needs rather than business or professional needs that entails:
- Insurance-support organization: means any person who regularly engages, in whole or in part, in the practice of assembling or collecting information about natural persons for the primary purpose of providing the information to an insurance institution or agent for insurance transactions, including: (i) the furnishing of consumer reports or investigative consumer reports to an insurance institution or agent for use in connection with an insurance transaction; or (ii) the collection of personal information from insurance institutions, agents, or other insurance-support organizations for the purpose of detecting or preventing fraud, material misrepresentation, or material nondisclosure in connection with insurance underwriting or insurance claim activity; provided, however, the following persons shall not be considered "insurance-support organizations" for purposes of this Article: agents, governmental institutions, insurance institutions, medical-care institutions, and medical professionals. See North Carolina General Statutes 58-39-15
- Residual market mechanism: means any reinsurance facility, joint underwriting association, assigned risk plan, or other similar plan established under the laws of this State. See North Carolina General Statutes 58-39-15
No insurance institution, agent, or insurance-support organization may seek information in connection with an insurance transaction concerning: (i) any previous adverse underwriting decision experienced by an individual; or (ii) any previous insurance coverage obtained by an individual through a residual market mechanism, unless such inquiry also requests the reasons for any previous adverse underwriting decision or the reasons why insurance coverage was previously obtained through a residual market mechanism. (1981, c. 846, s. 1; 2003-262, s. 2(1).)