Motor Vehicle Insurance - Use of Credit History in Rating Policies
What this bill does
Prohibiting an insurer, with respect to private passenger motor vehicle insurance, from rating a risk based, in whole or in part, on the credit history of an applicant or insured in any manner; repealing certain provisions of law authorizing an insurer to use the credit history of an applicant or insured to rate a new policy of private passenger motor vehicle insurance; applying the Act to all private passenger motor vehicle insurance policies issued, delivered, or renewed in the State on or after October 1, 2020; etc.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.