SENATE AMENDMENT
Bill No. CS for CS for SB 204
Amendment No. ___ Barcode 454552
CHAMBER ACTION
Senate House
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11 Senator Miller moved the following amendment:
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13 Senate Amendment
14 On page 4, line 23, through
15 page 5, line 18,delete those lines
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17 and insert: in which instance the insurer shall:
18 a. Treat the applicant or insured as if the applicant
19 or insured had neutral credit information as defined by the
20 insurer.
21 b. Treat the consumer as if the applicant or insured
22 had neutral credit information, as defined by the insurer.
23 c. Exclude the use of credit information as a factor
24 and use only other underwriting criteria;
25 2. Collection accounts with a medical industry code,
26 if so identified on the consumer's credit report;
27 3. Place of residence; or
28 4. Any other circumstance that the Financial Services
29 Commission determines, by rule, lacks sufficient statistical
30 correlation and actuarial justification as a predictor of
31 insurance risk.
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2:25 PM 04/22/03 s0204c2b-18e0a
SENATE AMENDMENT
Bill No. CS for CS for SB 204
Amendment No. ___ Barcode 454552
1 (d) An insurer may use the number of credit inquiries
2 requested or made regarding the applicant or insured except
3 for:
4 1. Credit inquiries not initiated by the consumer or
5 inquiries requested by the consumer for his or her own credit
6 information.
7 2. Inquiries relating to insurance coverage, if so
8 identified on a consumer's credit report.
9 3. Collection accounts with a medical industry code,
10 if so identified on the consumer's credit report.
11 4. Multiple lender inquiries, if coded by the consumer
12 reporting agency on the consumer's credit report as being from
13 the home mortgage industry and made within 30 days of one
14 another, unless only one inquiry is considered.
15 5. Multiple lender inquiries, if coded by the consumer
16 reporting agency on the consumer's credit report as being from
17 the automobile lending industry and made within 30 days of one
18 another, unless only one inquiry is considered.
19 (e) An insurer must, upon the request of an applicant
20 or insured, provide a means of appeal for an applicant or
21 insured whose credit report or credit score is unduly
22 influenced by a dissolution of marriage, the death of a
23 spouse, or temporary loss of employment. The insurer must
24 complete its review within 10 business days after the request
25 by the applicant or insured and receipt of reasonable
26 documentation requested by the insurer, and, if the insurer
27 determines that the credit report or credit score was unduly
28 influenced by any of such factors, the insurer shall treat the
29 applicant or insured as if the applicant or insured had
30 neutral credit information or shall exclude the credit
31 information, as defined by the insurer, whichever is more
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2:25 PM 04/22/03 s0204c2b-18e0a
SENATE AMENDMENT
Bill No. CS for CS for SB 204
Amendment No. ___ Barcode 454552
1 favorable to the applicant or insured. An insurer shall not be
2 considered out of compliance with its underwriting rules or
3 rates or forms filed with the Office of Insurance Regulation
4 or out of compliance with any other state law or rule as a
5 result of granting any exceptions pursuant to this subsection.
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