(1) Provide the consumer the name, address, and phone number of the person or division at the insurance company responsible for handling applicant or policyholder questions concerning credit-based underwriting decisions;
(2) Provide notification to the consumer that an adverse action has been taken, in accordance with the requirements of section 1681m(a) of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., including:
(A) The name, address, and toll-free telephone number of the credit bureau that provided the insurer with the credit-based information;
(B) The fact that the consumer has the right to obtain a free copy of his or her credit report from the appropriate credit bureau; and
(C) The fact that the consumer has the right to challenge information contained in his or her credit report; and
(3)
(A) Provide notification to the consumer explaining the reasons for the adverse action.
(B)
(i) The reasons shall 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.
(ii) The notification shall include a description of up to four (4) factors that were the primary influences of the adverse action.
(C) The use of generalized terms such as "poor credit history", "poor credit rating", or "poor credit score" does not meet the explanation requirements of this section.
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