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House approves limits on use of credit scores in auto insurance underwriting (HB110) after extensive debate
Summary
The House passed a first substitute of House Bill 110 limiting the use of credit scores to determine eligibility, underwriting, rating and renewals for motor vehicle insurance while permitting limited discounts; the final tally on the first substitute was 61–11 after debate over consumer protection and market impacts.
Representative Wallace introduced first substitute House Bill 110 to curb the use of credit scores in automobile insurance underwriting and placed amendment number 4 on the record to remove credit scores as a basis for eligibility, underwriting, rating and renewals while allowing insurers to use scores as a discount mechanism if they choose and permitting the insurance commissioner to adopt rules to enforce the provisions.
Wallace said the issue came from constituent complaints and…
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