(a) No insurance institution, insurance representative or insurance-support organization may prepare or request an investigative consumer report about an individual in connection with an insurance transaction involving an application for insurance, a policy renewal, a policy reinstatement or a change in insurance benefits unless the insurance institution or insurance representative informs the individual:

1. (1) that each individual may request to be interviewed in connection with the preparation of the investigative consumer report; and
2. (2) that upon a request pursuant to section eight, such individual is entitled to receive a copy of the investigative consumer report.