The Mississippi Department of Insurance announced it has scheduled a Sept. 9 public hearing on a proposed regulation on the use of credit scoring in personal lines insurance underwriting.
Adoption of Mississippi Department of Insurance Regulation 2003-01, “Use of Credit History and Insurance Scores for Determining Rates and Eligibility for Personal Insurance,” will be considered.
MDOI’s proposed regulation would prohibit the use of credit scoring as the sole underwriting criteria in personal lines and would also prohibit an insurance company from basing initial or renewal rates solely upon credit scoring.
A copy of the proposed legislation may be viewed at http://www.doi.state.ms.us/regulations/20031reg.pdf.
The hearing will be held in Jackson at 9:30 am in the Old Supreme Court Chamber of the New State Capitol, Room 216.
Topics Legislation Mississippi
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