§ 58-39-5. Purpose. - North Carolina Statutes

§ 58‑39‑5. Purpose.

The purpose of this Article isto establish standards for the collection, use, and disclosure of informationgathered in connection with insurance transactions by insurance institutions,agents, or insurance‑support organizations; to maintain a balance betweenthe need for information by those conducting the business of insurance and thepublic's need for fairness in insurance information practices, including theneed to minimize intrusiveness; to establish a regulatory mechanism to enablenatural persons to ascertain what information is being or has been collectedabout them in connection with insurance transactions and to have access to suchinformation for the purpose of verifying or disputing its accuracy; to limitthe disclosure of information collected in connection with insurancetransactions; and to enable insurance applicants and policyholders to obtainthe reasons for any adverse underwriting decision. (1981, c. 846, s. 1;  2003‑262,s. 2(1).)