Michigan Gov. Rick Snyder has signed a series of bills that will help insurance consumers by providing additional protections regarding the use of credit-based insurance scores, according to the Property Casualty Insurers Association of America (PCI).
The package of insurance scoring bills (House Bills 4593, 4594, 4595, 4596 and Senate Bill 300) had broad bipartisan support, PCI said.
In Michigan, insurance scoring is used only to provide discounts for insurance customers. Credit-based insurance scores are not used in Michigan to apply a surcharge or to determine whether a person can be insured by a company.
Across the country the trend toward fewer insurance scoring bills continued. This year insurance scoring legislation advanced in only two states, Kentucky and Michigan. Both states made positive improvements by adopting NCOIL’s extraordinary life circumstances language, according to PCI.
Source: PCI
Topics Michigan
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