The North Dakota Senate last week killed legislation (SB 2330) that would have banned insurers from using credit information in underwriting and rating.
On Feb. 2, the Senate Industry, Business and Labor Committee voted do not pass on SB 2330 and later last week the full Senate agreed with the committee’s recommendation and voted 29 – 16 to defeat the proposal.
The measure was strongly opposed by insurance companies including members of the Property Casualty Insurers Association of America (PCI).
“The North Dakota Senate today did consumers a huge favor by defeating this bill as most consumers in the state either benefit from or are otherwise unaffected by the use of credit when they purchase insurance,” said Alex Hageli, manager of personal lines for PCI.
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