IL HB1059

Prohibits insurers authorized to do business in Illinois from using credit information as a factor to determine rates for private passenger automobile insurance policies amended, delivered, issued, or renewed on or after the effective date of the Act.

Requires the Department of Insurance to adopt rules necessary to enforce and administer this prohibition.

Amends Section 45 of the Use of Credit Information in Personal Insurance Act to clarify that the Department's rate-setting prohibition does not apply to the new credit information restrictions in Section 21.

Applies to all applicants and policyholders under the specified insurance policies.