1. If an insurer uses credit information in underwriting or rating an applicant, the insurer or its agent shall disclose, either on the application for the policy or at the time the application is taken, that the insurer may obtain credit information in connection with the application. The disclosure must be written or provided to an applicant in the same medium as the application. The insurer need not provide the disclosure required pursuant to this subsection to a policyholder upon renewal of a policy if the policyholder was previously provided the disclosure in connection with the policy. An insurer may comply with the requirements of this subsection by providing the following statement:

In connection with this application for insurance, we may review your credit report or obtain or use a credit-based insurance score based on the information contained in that credit report. We may use a third party in connection with the development of your insurance score.

2. The Division shall post on its Internet website a list of each insurer that does not use an insurance score when underwriting, rating an applicant for or calculating the premium for a policy of insurance for a passenger car or homeowner’s insurance and shall update this list on July 1 of each year.

3. The Division may post on its Internet website, without limitation:

(a) General information concerning the use of an insurance score in underwriting, rating an applicant for or calculating the premium for a policy of insurance; and

(b) Applicable laws governing the manner in which an insurance score may be used.

4. As used in this section, “passenger car” has the meaning ascribed to it in NRS 482.087.

(Added to NRS by 2003, 2804; A 2013, 432)