MN HF2625

Prohibits insurers from rejecting, canceling, or nonrenewing motor vehicle or homeowner's insurance policies based solely on credit information, credit scores, or insurance scores.

Requires insurers to disclose to consumers if credit information will be obtained and used in the underwriting process.

Prohibits using insurance inquiries and non-consumer-initiated inquiries as part of credit scoring or insurance scoring processes.

Requires insurers to exclude credit as a factor when a credit score or insurance score is adversely impacted by absence of credit history or catastrophic events (injury, illness, job loss, or family death).

Effective August 1, 2010, applies to policies issued, renewed, or continued on or after that date; insurers using credit scoring must file methodologies and supporting information with the commissioner.