Iowa HF2259 prohibits insurers from using credit information to underwrite or rate motor vehicle financial liability coverage policies.

Iowa HF2259 amends state law to prohibit insurers from using credit information to underwrite or rate risks for motor vehicle financial liability coverage policies. The bill defines "financial liability coverage" as an owner’s policy of liability insurance for motor vehicles. Insurers are restricted from considering credit information unless updated within the last 90 days. This change aims to prevent insurers from making decisions based solely on credit data, ensuring other relevant factors are considered.

Iowa HF2259 prohibits insurers from using credit information to underwrite or rate motor vehicle financial liability coverage policies.

Iowa HF2259 amends state law to prohibit insurers from using credit information to underwrite or rate risks for motor vehicle financial liability coverage policies. The bill defines "financial liability coverage" as an owner’s policy of liability insurance for motor vehicles. Insurers are restricted from considering credit information unless updated within the last 90 days. This change aims to prevent insurers from making decisions based solely on credit data, ensuring other relevant factors are considered.