SB2208 Summary

• Prohibits insurers from using credit information to calculate insurance scores for private passenger automobile insurance policies amended, delivered, issued, or renewed after the effective date of this act.

• Maintains existing restrictions on using income, gender, address, ethnic group, religion, marital status, or nationality as factors in insurance scores.

• Requires insurers to re-underwrite and re-rate policies at annual renewal upon request, unless the consumer is already in the most favorably priced tier, credit was not originally used, or the insurer has reevaluated within 36 months or recalculated within 12 months.

• Prohibits using as negative factors: uninitiated credit inquiries, insurance-related inquiries, medical collection accounts, and multiple home mortgage or auto lending inquiries within 30 days.

• Prevents insurers from denying, canceling, or non-renewing policies based solely on credit information without considering other underwriting factors.