SB2412 prohibits insurers from using credit scores or age in setting rates for Illinois drivers aged 50 and older.

SB2412 amends the Illinois Insurance Code to prevent insurers from considering credit-based insurance scores or age when setting rates for certain vehicle insurance policies. Specifically, insurers cannot use these factors for drivers aged 50 or older. Additionally, insurers are barred from canceling policies or increasing premiums solely due to the insured reaching age 65, provided they hold a valid Illinois driver's license.

SB2412 prohibits insurers from using credit scores or age in setting rates for Illinois drivers aged 50 and older.

SB2412 amends the Illinois Insurance Code to prevent insurers from considering credit-based insurance scores or age when setting rates for certain vehicle insurance policies. Specifically, insurers cannot use these factors for drivers aged 50 or older. Additionally, insurers are barred from canceling policies or increasing premiums solely due to the insured reaching age 65, provided they hold a valid Illinois driver's license.