1. (a) If an insurer uses an insurance score or information from a consumer report in the rating or underwriting of any private passenger automobile or homeowners insurance policy, the insurer shall:

   1. (1) Disclose, either on the insurance application or at the time the insurance application is taken, that it may obtain an insurance score or information from a consumer report in connection with such application, where:

      1. a. Such disclosure shall be either written or provided to the applicant in the same medium as the application for insurance;
      2. b. The insurer need not provide the disclosure statement required under this section to any insured on a renewal policy if such insured has previously been provided a disclosure statement;
      3. c. The disclosure statements shall be maintained by the insurer as part of the policy record file pursuant to RSA 400-B:4; and

      4. d. Use of the following example disclosure statement constitutes compliance with this section:

         "In connection with this application for information, 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. (2) Provide a statement notifying the consumer of the company's general timeframe in which credit is ordered in relationship to the date of application or renewal offer; and

   3. (3) Provide notification to the consumer the insurance score or consumer report information is used in the rating or underwriting of the policy. Such disclosure may be provided at either the time of application in the same medium as the application, with the policy, or at the applicant's request. Use of the following example disclosure statement constitutes compliance with this section:

      "We use information contained in a consumer report to develop a credit-based insurance score. That score is just one of many factors that are used to [underwrite and/or rate] your policy."; and

   4. (4) If a policy is being offered to the consumer, provide an explanation of:

      1. a. How the insurer will make adjustments in rating or underwriting if the consumer's insurance scores or consumer report information changes; and
      2. b. The process by which the consumer can request the policy be re-rated or re-underwritten to reflect current insurance scoring or consumer report information.

Source. #7658, eff 9-1-02; ss by #8052, eff 7-1-04; ss by #9634, eff 7-1-10; ss by #12599, eff 8-3-18