SB1435

Oklahoma SB1435 prohibits insurers from using credit information to underwrite or rate personal insurance policies.

Oklahoma SB1435 amends state law to prohibit insurers from using credit information to underwrite or rate personal insurance policies. Insurers are restricted from using certain factors, such as income, gender, and marital status, in calculating insurance scores. The bill also limits how often insurers can obtain updated credit reports and restricts the use of credit information in adverse actions against consumers. The act repeals previous sections related to credit information in personal insurance and sets an effective date of November 1, 2026.