SB 0981 Prohibits insurers from using lack of an established credit history in denying or refusing to renew insurance
Sponsor:Westfall
LR Number:2497S.02I Fiscal Note:2497-02
Committee:Insurance and Housing
Last Action:02/19/02 - Hearing Conducted S Insurance & Housing Committee Journal page:
Title:
Effective Date:August 28, 2002
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Current Bill Summary

SB 981 - This act prohibits insurance companies from using an individual's lack of an established credit history in denying or refusing to renew insurance coverage. An insurer cannot cancel, refuse to write, or refuse to renew a policy or base an adverse underwriting decision because person does not have an established credit history. An insurance company which violates this section is guilty of an unfair trade practice. The provisions of this act will apply to insurance policies entered into on or after January 1, 2003.
STEPHEN WITTE