OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler announced that more than 50 insurance companies met the May 6 deadline to file rating plans that comply with his emergency rule to temporarily prohibit the use of consumers’ credit scores.
The temporary ban on the use of credit scores for insurance takes effect June 20. Companies that failed to meet the deadline are in violation of state law and are subject to disciplinary action by Kreidler’s office.
Approximately 200 companies are licensed to sell auto, homeowner and renter insurance in Washington. However, not…