If a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply?

The correct response to the timeframe for compliance with a consumer's request for additional information concerning an investigative consumer report is five days. This requirement is derived from the Fair Credit Reporting Act (FCRA), which stipulates that when a consumer requests more information about the content of their report, the reporting agency or insurer must respond within five business days. This timeframe ensures that consumers can quickly access relevant information regarding their reports, allowing them to address any discrepancies or concerns effectively.

Understanding this timeframe is crucial, as it emphasizes the importance of timely communication and transparency in the insurance industry. It also highlights consumers' rights to be informed about their personal information, thus fostering trust between consumers and reporting agencies.