CT HB06920

Renumbers and revises definitions in Section 38a-663 related to insurance rating organizations, advisory organizations, members, subscribers, and markets, changing grammatical references from "which" to "that" throughout.

Adds new definition of "homeowners insurance" as property and casualty insurance for owner-occupied buildings with four or fewer dwelling units.

Prohibits insurers from using property proximity to other occupied residential dwellings as a rating factor for homeowners insurance.

Establishes detailed requirements for use of credit history in personal risk insurance underwriting and rating, including disclosure requirements, prohibited credit characteristics, and procedures for applicants to report extraordinary life circumstances.

Requires insurers using credit-based rating programs to file documentation with the commissioner demonstrating correlation between the program and expected risk of loss, with analysis of impacts on urban versus nonurban territories and different age groups.

Both sections effective October 1, 2015.