Insurance-use of credit information.

WORKING DRAFT
2008
STATE OF
WYOMING
08LSO-0358

HOUSE BILL
NO.
HB0125

Insurance-use of credit information.

Sponsored by:
Representative(s) Zwonitzer, Dn., Blake,
Edmonds
and Warren and Senator(s) Landen and Mockler

A BILL

for

AN ACT relating to insurance; prohibiting the use of credit scoring in underwriting, canceling, denying or nonrenewing policies as specified; and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.
W.S. 26
‑
2
‑
134(a)(i) is amended to read:

26
‑
2
‑
134.

Prohibiting the use of credit scoring; rulemaking.

(a)

The commissioner is authorized to adopt rules as necessary to govern the practices of all persons licensed under this code with respect to the use of credit scoring in the underwriting of personal lines, motor vehicles and homeowner policies. The rules shall provide:

(i)

That a person's credit history or scoring shall not be
the sole
considered or used in any way as the
basis to
set the premium for,
cancel, deny or nonrenew an insurance policy
. An insurer may use credit history only

either alone or
in combination with other valid underwriting factors
;
independent of credit history or score;

Section 2.

W.S. 26
‑
2
‑
134(a)(ii) is repealed.

Section 3.

This act is effective July 1, 2008 and
shall apply to any
personal lines, motor vehicle and homeowner
policy or plan that is delivered, issued, renewed, modified, amended or extended on or after July 1, 2008.

(END)

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HB0125