1. An insurer that uses information from a consumer credit report shall not:

(a) Use an insurance score that is calculated using income, gender, sexual orientation, gender identity or expression, address, zip code, ethnic group, religion, marital status or nationality of the consumer as a factor, or would otherwise lead to unfair or invidious discrimination.

(b) Deny, cancel or fail to renew a policy on the basis of credit information unless the insurer also considers other applicable underwriting factors that are independent of credit information and not expressly prohibited by this section.

(c) Base renewal rates for a policy upon credit information unless the insurer also considers other applicable factors independent of credit information.

(d) Take an adverse action against an applicant or policyholder based on the applicant or policyholder not having a credit card account unless the insurer also considers other applicable factors independent of credit information.

(e) Consider an absence of credit information or an inability to calculate an insurance score in underwriting or rating a policy unless the insurer does any one of the following:

(1) Treats the applicant or policyholder as otherwise approved by the Commissioner, after the insurer presents to the Commissioner information indicating that such an absence or inability relates to the risk for the insurer.

(2) Treats the applicant or policyholder as if the applicant or policyholder had neutral credit information, as defined by the insurer.

(3) Excludes the use of credit information as a factor, and uses only underwriting criteria other than credit information.

(f) Take an adverse action against an applicant or policyholder based on credit information, unless an insurer obtains and uses a consumer credit report issued or an insurance score calculated within 90 days from the date the policy is first written or renewal is issued.

(g) Use the following as a negative factor in any insurance scoring methodology or in reviewing credit information for the purpose of underwriting or rating a policy:

(1) Credit inquiries not initiated by the applicant or policyholder, or inquiries requested by the applicant or policyholder for his or her own credit information.

(2) Inquiries relating to insurance coverage, if so identified on the consumer credit report.

(3) Collection accounts relating to medical treatment, if so identified on the consumer credit report.

(4) Multiple lender inquiries, if identified on the consumer credit report as being related to home loans or mortgages and made within 30 days of one another, unless only one inquiry is considered.

(5) Multiple lender inquiries, if identified on the consumer credit report as being related to a loan for an automobile and made within 30 days of one another, unless only one inquiry is considered.

2. Except as otherwise provided in this subsection, at the time of the annual renewal of a policyholder’s policy, an insurer that uses information from a consumer credit report shall, upon the request of the policyholder or the policyholder’s agent, reunderwrite and rerate the policy based upon a current consumer credit report or insurance score. An insurer need not, at the request of a policyholder or the policyholder’s agent, recalculate the insurance score of or obtain an updated consumer credit report of the policyholder more frequently than once in any 12-month period.

(Added to NRS by 2003, 2802; A 2017, 1078, 2341)