LA SB61

Insurers using credit information for personal insurance underwriting or rating must disclose this practice on the application and inform consumers how to obtain a copy of the credit information used

When taking adverse action based on credit information, insurers must notify consumers in accordance with the federal Fair Credit Reporting Act and provide up to four specific factors that influenced the decision

Generic explanations such as "poor credit history" or "poor insurance score" do not satisfy the adverse action notification requirements

The Insurance Commissioner must review insurers' credit scoring models and processes filed with the Department of Insurance to ensure compliance with the law

Effective July 1, 2026