SB 1395 Summary

• Prohibits insurers from using credit ratings, credit reports, credit scoring models, or credit information to underwrite, classify, rate, or make decisions to cancel, renew, or refuse to issue insurance policies in Arizona.

• Removes existing requirements for insurers to disclose credit-related information and insurance score factors when making adverse underwriting decisions based on credit information.

• Repeals provisions requiring insurers to explain which credit history types were primary causes of adverse actions resulting from insurance scores.

• Eliminates restrictions on types of credit history insurers cannot use when calculating insurance scores (medical collection accounts, old bankruptcies, credit card type, available credit lines, and demographic factors).