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House floor debate centers on limited use of credit scores in initial auto-insurance underwriting
Summary
Representative Wallace explained Senate amendments allowing insurers to use credit scores for customers with no prior relationship with the company as part of initial underwriting. Members questioned federal preemption and whether an initial score could permanently harm customers’ insurance prospects.
Representative P. Wallace told the Utah House that recent Senate amendments to the motor-vehicle insurance bill would allow insurers to use a credit score when underwriting someone who has never been a client. "They will be able to use a credit score along with risk-related factors," Wallace said, calling the change a narrow allowance for initial underwriting.
Lawmakers pressed the sponsor on the permanence and federal implications of the change.…
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