Insurance Law 2803 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 2802 Use of credit information up ARTICLE 28 Use of Credit Information next SECTION 2804 Initial notification Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 2803 Dispute resolution and error correction Insurance (ISC) CHAPTER 28, ARTICLE 28 § 2803. Dispute resolution and error correction. If it is determined through the dispute resolution process set forth in the federal Fair Credit Reporting Act, 15 USC 1681i(a)(5), that the credit information of a current insured was incorrect or incomplete and if the insurer receives notice of such determination from either the consumer reporting agency or from the insured, the insurer shall re-underwrite and re-rate the consumer within thirty days of receiving such notice. After re-underwriting or re-rating the insured, the insurer shall make any adjustments necessary, consistent with its underwriting and rating guidelines. If an insurer determines that the insured has overpaid premium, the insurer shall refund to the insured the amount of overpayment calculated back to the last thirty-six months of coverage provided by such insurer.