LexisNexis Risk Solutions Inc. is a reseller of credit reports and considered a Consumer Reporting Agency as defined by the FCRA. LexisNexis Risk Solutions Inc. delivers credit reports from credit bureaus (Equifax, Experian, TransUnion) to the insurance industry. We are not able to correct or otherwise alter the information contained on a credit bureau's credit report. However, if your report was ordered from LexisNexis Risk Solutions Inc., on behalf of an insurance company, we can facilitate the dispute of information that is inaccurate, incomplete or out-of-date on your credit report. If you have been adversely affected by your credit report, please follow our dispute procedures.
The use of credit and insurance scores in the insurance industry:
Insurance companies use credit reports, along with an insurance score, to accurately calculate risk. Studies have shown a correlation between the financial history of a person and his/her future insurance loss potential. As a result, insurance companies incorporate the use of insurance scores in their pricing and underwriting to enable them to offer insurance coverage to more consumers at a fair cost.
If you have been adversely affected by your credit information, the Consumer Reporting Agency that provided it shall, upon your request, clearly and accurately disclose to you all information in your file at the time of your request. However, the FCRA does not require a Consumer Reporting Agency to disclose to a consumer any information concerning insurance scores to the consumer.
However, LexisNexis Risk Solutions Inc. believes information regarding insurance scores and reason codes is valuable to consumers and offers our LexisNexis Risk Solutions Inc. AttractTM insurance score, along with a credit report, on www.choicetrust.com at a charge. LexisNexis Risk Solutions Inc. is the leading provider of insurance scores. However, in addition to the LexisNexis Risk Solutions Inc. Attract Score, there are other insurance score models that may be used by insurance companies. To find out more information on insurance scores, please access our FAQs.