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OK SB1402
Bill
Status
2/1/2016
Primary Sponsor
Rob Standridge
Click for details
AI Summary
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Prohibits auto insurers from using credit information to underwrite or rate personal insurance policies in Oklahoma
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Bans insurers from denying, canceling, or failing to renew policies, or from basing renewal rates, solely on credit information
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Removes trade secret protection for insurance scoring model filings related to credit information with the Insurance Department
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Repeals existing sections of law (36 O.S. 2011, Sections 954, 955, and 956) that previously governed re-underwriting, disclosure statements, and adverse actions based on credit information
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Effective date of November 1, 2016
Legislative Description
Insurance; prohibiting auto insurers from using credit information for rates. Effective date.
Last Action
Second Reading referred to Insurance
2/2/2016