Indiana State Life and Health Insurance Exam 2025 – 400 Free Practice Questions to Pass the Exam

The Fair Credit Reporting Act (FCRA) is the law that mandates insurers to disclose their information gathering practices and the sources from which the information is obtained. This law is designed to promote transparency and consumer protection in the financial system. Under the FCRA, individuals have the right to know what information is being collected about them and to ensure that it is accurate. Insurers must provide clear disclosures to consumers regarding their practices, which helps in building trust and accountability in the insurance industry.

In this context, the other options do not relate to the requirement for insurers to disclose their information-gathering practices. The State Guaranty Association pertains to the protection of policyholders in the event of an insurance company insolvency. The Fair Labor Standards Board is focused on labor laws and does not interact with insurance practices. The National Association of Insurance Commissioners does provide guidelines and supports regulatory practices but does not specifically enforce disclosure requirements related to information gathering by insurers.