OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler has adopted his rule temporarily banning insurers from using credit information to set auto, homeowner and renter insurance, effective March 4. In addition, he’s proposing a new transparency rule requiring insurers to provide policyholders with a written explanation for any premium change.
“I’m taking this action against insurers’ use of credit scoring in response to the economic harm many people have experienced during the COVID-19 pandemic—harm that has significantly impacted people who are already financially…