IN HB1073

Prohibits insurance companies from considering credit information in any manner when renewing personal insurance policies, strengthening previous restrictions that only banned basing renewal rates "solely" on credit information

Removes insurers' ability to obtain current credit information at policy renewal and eliminates the exemption for insurers who reevaluate customers at least every 36 months using non-credit factors

Requires insurers to maintain policyholders in their current pricing tier if re-underwriting based on credit information would result in placement in a less favorable (more expensive) tier

Removes the exemption allowing insurers to skip disclosure statements for renewal policies where the insured previously received one, requiring disclosure on all applications

Effective date of July 1, 2013