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Committee advances bill requiring insurers to disclose use of credit information in personal insurance
Summary
Senate Bill 61, as amended, requires insurers to notify consumers when credit information may be used in underwriting and to provide a consumer’s credit‑based insurance score and explanatory information with quotes; committee adopted amendments and reported the bill.
The House Insurance Committee on May 28 adopted amendments to Senate Bill 61 and reported the bill to the full House. The measure would require insurers to disclose to consumers when credit information may be obtained and used in underwriting or rating certain personal insurance policies and to provide consumers with details about credit‑based insurance scores.
Committee staff said a technical amendment (set 3412) improved readability; a substantive amendment set (3,561) adopted in committee sets the effective date of July 1, 2026, for two of the amendments and requires insurers, when initially notifying a consumer about the potential use of credit information, to explain how to obtain a copy of the credit information used. Under the adopted language, insurers must include a consumer’s credit‑based insurance score in a quote and explain the minimum and maximum possible scores, how score ranges affect pricing, and a breakdown of factors influencing the score.
Kellen Matthews (State Forum) provided stakeholder comment supporting the documentation and notification approach adopted in the amendments. Representative Bagley moved to report the bill with amendments; there was no objection and Senate Bill 61 was reported with amendments to the House floor.
