Texas SB1644 regulates the use of credit scores in personal lines property and casualty insurance policies.

Texas SB1644 amends the Insurance Code to establish rules for insurers using credit scores in underwriting and rating certain personal lines property and casualty insurance policies. Insurers must use a credit report issued within 90 days of policy issuance or renewal. They must review and update the credit report every 36 months and adjust premiums based on the updated score. Insurers must notify policyholders of any changes in their credit score and premiums, detailing the update date and how the score affected the premium.

Texas SB1644 regulates the use of credit scores in personal lines property and casualty insurance policies.

Texas SB1644 amends the Insurance Code to establish rules for insurers using credit scores in underwriting and rating certain personal lines property and casualty insurance policies. Insurers must use a credit report issued within 90 days of policy issuance or renewal. They must review and update the credit report every 36 months and adjust premiums based on the updated score. Insurers must notify policyholders of any changes in their credit score and premiums, detailing the update date and how the score affected the premium.