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2019 SESSION

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HB 2230 Insurance; use of credit rating.

Introduced by: Lamont Bagby | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Insurance; use of credit rating. Clarifies what constitutes adverse action in the use of credit in the rating and underwriting of homeowners and private passenger automobile insurance policies. An insurer is required to notify the applicant or insured when an insurer takes adverse action based on credit information. The measure conforms the definition of adverse action to the U.S. Supreme Court's decision in Safeco Insurance Company v. Burr, in which it held that an adverse action has occurred only when the use of credit information puts the applicant or insured in a worse position than if credit had not been considered.


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