38.2-600 - Purposes.

§ 38.2-600. Purposes.

The purposes of this chapter are to:

1. Establish standards for the collection, use, and disclosure of informationgathered in connection with insurance transactions by insurance institutions,agents or insurance-support organizations;

2. Maintain a balance between the need for information by those conductingthe business of insurance and the public's need for fairness in insuranceinformation practices, including the need to minimize intrusiveness;

3. Establish a regulatory mechanism to enable natural persons to ascertainwhat information is being or has been collected about them in connection withinsurance transactions and to have access to such information for the purposeof verifying or disputing its accuracy;

4. Limit the disclosure of information collected in connection with insurancetransactions; and

5. Enable insurance applicants and policyholders to obtain the reasons forany adverse underwriting decision.

(1981, c. 389, § 38.1-57.3; 1986, c. 562.)