NAII Offers Update on Credit Scoring Legislation
The National Association of Independent Insurers has issued a bulletin which lists the status of legislation in various states concerning the use of "credit scoring" by insurers.
A rundown of the Eastern region includes the following:
Maryland - A bill currently being considered by the House Economic Matters Committee would prohibit an insurer from refusing to underwrite a policy, or increase the premium on an existing policy due to the credit history of the applicant.
Rhode Island - A legislative committee is considering a bill which would forbid requests for credit reports in connection with applications for insurance.
Virginia - A bill which would have prohibited an insurer or agent from setting rates for motor vehicle and homeowners' insurance based upon credit scoring died in committee.
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