Senator Storms Files Bill To Prohibit The Use Of Credit Scores In Insurer Ratemaking
Nov 11, 2009
On November 10, 2009, Senator Rhonda Storms (R- Brandon) filed Senate Bill 662, which would prohibit the use of credit reports and credit scores in making rating determinations by insurers. Further, the bill prohibits an insurer that issues motor vehicle insurance from using a rate, rating schedule, rating manual, or an underwriting rule that is not contained in a rating manual and is determined even partially on the basis of education, occupation or the credit report or scores of an insured.
At this time, the bill has not been referred to any committees and there is no House companion bill. Further information will be communicated as it becomes available.
Should you have any questions or comments, please do not hesitate to contact Colodny Fass.
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