Introduced
by
To prohibit insurance companies from offering premium price discounts on the basis of a person having a good credit history or credit score. Insurance companies would be required to take the aggregate value of all such discounts currently offered and lower all rates by amount equal to that aggregate value. In other words, insurance customers who currently pay less because good credit histories would experience a price hike, and those who do not have good credit histories would get a slight price cut. This is part of a Democratic insurance regulation package.
Referred to the Committee on Banking and Financial Institutions
