AK SB98

Requires insurers to disclose use of credit information at time of insurance application and at renewal, with specific language about credit reports and insurance scores.

Mandates written notice to consumers when insurers take adverse action based on credit history or insurance score, including significant factors, reconsideration rights, and information about extraordinary life circumstances exceptions.

Prohibits insurers from using credit information as sole factor; requires reunderwriting and rerating within 24 months using current credit history, insurance score, or risk characteristics.

Establishes list of extraordinary life circumstances (catastrophes, serious illness, death, divorce, identity theft, job loss, military deployment) for which insurers must provide reasonable exceptions to rates and underwriting rules.

Creates appeal process allowing consumers to request director review within 30 days if insurer denies exception request, with director decision required within 30 days based on prudent person standard.