MS HB1211

Prohibits insurers from taking adverse actions based on credit information unless the credit report or insurance score was obtained within 90 days of policy issuance or renewal.

Requires insurers to recalculate insurance scores or obtain updated credit reports no later than every 36 months, unless the insured is in the most favorable pricing tier, the insurer opts not to use credit information, or annual notice of right to request recalculation is provided.

Forbids use of specific credit report items as negative factors including: uninitiated credit inquiries, insurance-related inquiries, multiple mortgage or auto lending inquiries made within 30 days, and medical collection accounts.

Prohibits denying, canceling, or non-renewing policies based solely on credit information without considering other independent underwriting factors, and prevents setting renewal rates based solely on credit information.

Prohibits using insurance scores calculated with income, gender, address, ethnic group, religion, marital status, nationality, education, or occupation as factors; effective July 1, 2016.