31 Oct Types of Investigative Credit Reports – The Insurance Report
In a previous article, I discussed the little known, but potentially damaging, Investigative Credit Report. One of the most common of the investigative credit reports is for insurance purposes.
Insurance companies frequently use the services of organizations known as inspection bureaus to determine whether they will issue a policy of insurance, the rate charged for the insurance and whether or not to cancel insurance.
While investigative reports rarely result in the inability to obtain car or house insurance, inaccurate medical or health information may prevent someone from obtaining health or life insurance.
In an effort to get around the requirements of the Fair Credit Reporting Act FCRA, inspection bureaus will frequently limit its investigation to public records. However, once interviews of neighbors or other third parties are involved, the report will be controlled by the FCRA.
If you are denied insurance coverage, request the sources used by the insurance company for the denial of insurance.
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