HB 5419 Summary

• Modifies automobile insurance rating requirements to establish three mandatory factors: driving safety record (greatest weight), annual miles driven (second greatest weight), and years of driving experience (third greatest weight), with director adopting additional factors by rule.

• Prohibits insurers from using sex, marital status, or credit information to determine automobile insurance rates and premiums, eliminating these as rating factors.

• Requires insurers exempt from chapter requirements or writing group/franchise policies to establish rates and rating classifications for automobile insurance based only on factors specified in section 2111.

• Clarifies that traffic accident prevention courses for drivers 50+ years old must meet specific standards (8 hours initial, 4 hours refresher instruction) to qualify for premium discounts, with discount valid for 3 years after completion.

• Defines "credit information" and "personal insurance" terminology, specifying that non-credit-related information contained in credit reports is not considered credit information regardless of its use in insurance scoring.