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.
Topics Legislation
Was this article valuable?
Here are more articles you may enjoy.
Banking Watchdogs Ramp Up AI Scrutiny as Stability Fears Mount, Sources Say 
Europe’s Insurers Cut Coverage of Weather Losses, Report Says 
Friend of Suspected FBI Data Thief: ‘Crazy’ Teen Warned Not to Hack Bureau 
Eastern States’ Grocers Shut Online Systems After Cyberattack 
