Study on the impact of credit history and credit-based insurance scores on personal insurance rates in Washington.

The bill mandates the Washington Office of the Insurance Commissioner to conduct a study on insurers' use of credit history, credit-based insurance scores, and other rate factors that may disproportionately affect Washington residents. The study will analyze the impact on consumer costs, premiums, rates, eligibility for coverage, and the availability of personal insurance. The commissioner must submit a preliminary report by December 31, 2025, and a final report by September 15, 2026, with policy options and recommendations.

Study on the impact of credit history and credit-based insurance scores on personal insurance rates in Washington.

The bill mandates the Washington Office of the Insurance Commissioner to conduct a study on insurers' use of credit history, credit-based insurance scores, and other rate factors that may disproportionately affect Washington residents. The study will analyze the impact on consumer costs, premiums, rates, eligibility for coverage, and the availability of personal insurance. The commissioner must submit a preliminary report by December 31, 2025, and a final report by September 15, 2026, with policy options and recommendations.