(a) In the event of an adverse underwriting decision, the insurance institution or insurance representative responsible for the decision shall:

1. (1) either provide the applicant, policyholder or individual proposed for coverage with the specific reason for the adverse underwriting decision in writing or advise such person that upon written request such person may receive the specific reason in writing; and
2. (2) provide the applicant, policyholder or individual proposed for coverage with a summary of the rights established under subsection (b) and sections eight and nine.

(b) Upon receipt of a written request within ninety business days from the date of the mailing of notice or other communication of an adverse underwriting decision to an applicant, policyholder or individual proposed for coverage, the insurance institution or insurance representative shall furnish to such person within twenty-one business days from the date of receipt of such written request:

1. (1) the specific reason for the adverse underwriting decision, in writing, if such information was not initially furnished in writing pursuant to paragraph (1) of subsection (a); and
2. (2) the specific items of personal and privileged information that support such reason; provided, however, that: