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Get the free Credit scoring banWashington state Office of the Insurance Commissioner - dfi wa

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1STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS SECURITIES DIVISION2 3 4 5IN THE MATTER OF DETERMINING Whether there has been a violation Of the Business Opportunity Fraud Act by:SDO 68A
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Credit scoring banwashington state refers to the law in Washington state that prohibits the use of credit scores as a factor in setting insurance rates.
Insurance companies operating in Washington state are required to comply with the credit scoring ban.
Insurance companies must review their rating methodologies and remove any references to credit scores in order to comply with the ban.
The purpose of the credit scoring ban in Washington state is to promote fair and non-discriminatory insurance pricing based on risk factors other than credit history.
Insurance companies must report their revised rating methodologies that exclude the use of credit scores.
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