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Official Code of Georgia Annotated

Title 33. INSURANCE · Chapter 24. INSURANCE GENERALLY · Article 4. UNDERWRITING AND RATE RISKING

33-24-94. Adverse action based on credit information; notice to consumer.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. If an insurer takes an adverse action based upon credit information, the insurer must meet the notice requirements of this Code section. Such insurer shall provide notification to the consumer that an adverse action has been taken, in accordance with the requirements of the federal Fair Credit Reporting Act, 15 USC 1681m(a), and shall provide notification to the consumer explaining the reason or reasons for the adverse action. The reasons must be provided in sufficiently clear and specific language so that a person can identify the basis for the insurer’s decision to take an adverse action. Such notification shall include a description of up to four factors that were the primary influences of the adverse action. The use of generalized terms such as ‘‘poor credit history,’’ ‘‘poor credit rating,’’ or ‘‘poor insurance score’’ does not meet the explanation requirements of this Code section. Standardized credit explanations provided by consumer reporting agencies or other third party vendors are deemed to comply with this Code section.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 33-24-94, enacted by Ga. L. 2003, p. 343, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t33-ch23-65-(v25)-2020-pdf.pdf, Volume V25, 2020 edition, page 402; merge action: carried; file SHA-256 1cdfeaa4b73e.