HB4767 - Motor Vehicle Insurance Fairness Act

• Prohibits insurers from refusing to issue or renew automobile insurance policies based on 16 specified underwriting and rating factors, including sex, race, religion, age, credit score, prior insurance status, zip code, and income level.

• Allows insurers to consider years of driving experience as an exception to the age prohibition, and permits territorial factors for rating purposes only if they do not exceed 25% impact on premiums.

• Requires all insurers to demonstrate that their marketing, underwriting, rating, claims handling, fraud investigations, and algorithms do not disparately impact customers based on protected characteristics including race, color, national origin, religion, sex, sexual orientation, disability, gender identity, or gender expression.

• Establishes prior approval requirement for all rate changes, with rates deemed approved after 60 days unless the Director disapproves, a hearing is requested, or rate increases exceed 7% for personal lines or 15% for commercial lines insurance.

• Requires the Department of Insurance to adopt implementation rules within 90-180 days and assesses insurers a 0.05% fee on prior year earned premiums, payable by July 1 annually, to fund the program.