Texas HB3021 regulates the use of credit scores in personal lines property and casualty insurance underwriting and rating.

HB3021 amends the Texas Insurance Code to establish rules for insurers using credit scores in underwriting and rating personal lines property and casualty insurance policies. Insurers must use a credit report issued within 90 days before policy issuance or renewal, review and update the credit report every 36 months, and reassess policy ratings and premiums based on updated scores. Insurers must notify policyholders of any changes in their credit scores and premiums, detailing the update date and its impact on premiums.

Texas HB3021 regulates the use of credit scores in personal lines property and casualty insurance underwriting and rating.

HB3021 amends the Texas Insurance Code to establish rules for insurers using credit scores in underwriting and rating personal lines property and casualty insurance policies. Insurers must use a credit report issued within 90 days before policy issuance or renewal, review and update the credit report every 36 months, and reassess policy ratings and premiums based on updated scores. Insurers must notify policyholders of any changes in their credit scores and premiums, detailing the update date and its impact on premiums.