A bill moving through the Nebraska legislature would prohibit insurers from denying, canceling or non-renewing an insurance policy or basing rates solely on the basis of credit information.
Legislative Bill 487 would also require insurers to disclose information about the models used in the credit-based insurance scoring process.
A spokesperson for the Alliance of American Insurers, an industry trade group, said the new restrictions were cumbersome, unnecessary and duplicative of federal law.
Was this article valuable?
Here are more articles you may enjoy.
Stellantis Tells Owners of 1.3 Million Jeeps to Park Outside Over Fire Concerns 
Roof Costs Soar Even as Claims Decline: Verisk 
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
