Naic: Information And Privacy Protection Model Act National Association Of Insurance Commissioners
Definition of "Naic: information and privacy protection model act national association of insurance commissioners"
Model state law designed to govern use of information collected from insurance applications. The law forbids any insurer or agent from impersonating someone else to gain information about an applicant, unless there is reasonable cause to suspect criminal activity. The law also provides that an insurer must give timely notice of renewal and other company policies. It also governs the method in which an insurer can gain information about a policyholder and the use that can be made of it. All applicants are allowed access to information that the insurer has collected about them, the right to correct it if wrong, and to learn the reason they were turned down for insurance.
Popular Insurance Terms
Frequency and severity of accidents resulting from conditions and environment surrounding one's workplace. Occupation is an important underwriting factor when considering an applicant for ...
Same as term Cargo Insurance: shipper's policies covering one cargo exposure or all cargo exposures by sea on all risks basis. Exclusions include war, nuclear disaster, wear and tear, ...
Coverage on all risks basis for such items as binders, reapers, harvesters, plows, tractors, pneumatic tools and compressors, bulldozers, and road scrapers. Excluded from coverage are wear ...
Number of bits a modem can receive or send per second. ...
Agent who is licensed and who markets and services insurance policies in a state in which he or she is not domiciled. ...
Relationship of the frequency of deaths of individual members of a group to the entire group membership over a particular time period. ...
Person who commits a tort, a type of wrongful act, that causes injury or damage. ...
Rate-making division of insurance services offices (ISO) for inland marine insurance coverages of member companies. ...
Expenses taken out when benefits are paid. For example, a specific dollar amount is subtracted from a monthly income payment for company expenses. ...
Have a question or comment?
We're here to help.