CT HB06161

Prohibits insurers from using an applicant's or insured's credit history as a factor in underwriting or rating private passenger nonfleet automobile insurance policies, effective October 1, 2015.

Requires rating plans for private passenger nonfleet automobile insurance with territorial classifications to assign 75% weight to individual territorial loss cost indication and 25% weight to state-wide average loss cost indication.

Permits use of credit history for other personal risk insurance only with filed financial history measurement programs that include specific protections, restrictions, and consumer disclosures.

Requires insurers using credit history for non-auto personal risk insurance to allow applicants to request consideration of extraordinary life circumstances (catastrophic illness, divorce, death, job loss, identity theft, uninhabitable home loss) that occurred within three years before application.

Prohibits insurers from using specific credit factors including credit inquiries, disputed accounts, medical collection accounts, and lack of credit history (unless treated neutrally), and requires free disclosure to applicants when adverse actions are taken based on credit information.