SB852

Missouri SB852 prohibits insurers from using credit scores to determine automobile insurance rates.

Missouri SB852 restricts insurers from using credit scores in underwriting automobile insurance policies. Insurers cannot consider credit scores unless they justify their relevance to the Department of Commerce and Insurance. Insurers must notify applicants if credit scores affect their rates and provide a statement of reasons for adverse actions. Insurers cannot take adverse actions based on credit scores unless they consider other underwriting factors. The bill also mandates insurers to inform applicants of their right to a free credit report and to dispute erroneous information.