Appeals of rescissions to the Department of Insurance, Securities, and Banking.

If an insurer denies a member or member representative’s appeal of a rescission, the insurer shall provide the member or member representative and the Department of Insurance, Securities, and Banking with a written explanation of why the insurer found that there was fraud or misrepresentation of a material fact. The notice shall explain the member’s right to appeal to the Department of Insurance, Securities, and Banking.