If it is determined by a consumer reporting agency that a consumer's credit information is inaccurate or incomplete and the insurer is notified of this determination by the consumer reporting agency or the consumer, the insurer or its group of affiliated insurers shall re-underwrite and rerate the consumer's personal insurance coverage within thirty days of receiving the notice, refund any overpaid premium and, if necessary, make a related adjustment, including company placement, consistent with its filed underwriting and rating guidelines.
History: Laws 2005, ch. 275, § 6.
ANNOTATIONSEffective dates. — Laws 2005, ch. 275, § 13 made Laws 2005, ch. 275, § 6 effective January 1, 2006.
ANNOTATIONSApplicability. — Laws 2005, ch. 275, § 12 provided that Laws 2005, ch. 275, §§ 1 through 11 apply to personal insurance policies written to be effective or renewed on or after January 1, 2006.