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"

Brian Calvert real estate agent

Written by

Brian Calvertelite badge icon

The K Company

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Transportation firm that must carry any customer's goods if the customer is willing to pay. Common carriers include trucking companies, bus lines, and airlines. ...

A newer generation of life insurance policies that are credited with interest currently being earned by insurance companies on these policies. ...

List of the values of specific medical procedures in comparison with other medical procedures. ...

Individual who possesses a unique ability essential to the continued success of a business firm. For example, this individual might have the technical knowledge necessary for research and ...

Premium applied in workers compensation insurance and in life insurance. In the latter, it is the portion of a premium that is loaded to reflect an insured's expectation of loss, ...

Total of the number of accumulation units times the accumulation unit value for a variable annuity. Similar procedure is followed in the calculation of the current market value of a mutual ...

Instrument that uses noncombustible substances such as carbon dioxide to deprive a fire of oxygen, thereby extinguishing it. ...

Coverage under a commercial workers compensation policy for situations in which an employee not covered under workers compensation laws could sue for injuries suffered under common law ...

Legal instrument that authorizes a person to make medical decisions for another person should that person become permanently or temporarily incapable of making those decisions. This power ...

Popular Insurance Questions