HB0181 Summary

• Prohibits insurers from taking adverse action against consumers solely because they lack a credit card account.

• Requires insurers to obtain credit reports within 90 days of policy issuance or renewal, notify consumers in writing when credit reports are obtained, inform consumers of negative information that could trigger adverse action, and provide a 30-day response period before taking adverse action.

• Prohibits use of specific credit information as negative factors in insurance scoring, including non-consumer-initiated inquiries, medical collection accounts, and information on primary residence financing when consumer is current on payments.

• Mandates insurers recalculate insurance scores or obtain updated credit reports at least every 36 months, with exceptions for consumers in most favorable pricing tiers or those with neutral credit.

• Requires insurers to refund overpaid premiums calculated back to the shorter of 12 months of coverage or actual policy period when credit information is determined to be incorrect or incomplete; mandates written explanations when denying extraordinary life event exceptions.