The Office of the Insurance Commissioner is considering rules to temporarily prohibit the use of credit history to determine premiums and eligibility for coverage in private auto, homeowner and renters insurance for three years after the public emergency concludes.
In response to comments submitted during the rulemaking process, Insurance Commissioner Mike Kreidler has requested affected companies with over $1 million in annual premium to complete a premium impact worksheet reflecting their insureds’ premium change experience at renewal. Additionally, affected companies are requested to provide sample language used to notify their insureds of the emergency rule prohibiting the use of credit history in homeowner, renter, and private passenger automobile (PPA) rating and eligibility of coverage (R2021-02 and R2021-19).
The commissioner requested companies respond by Dec. 20, 2021. An extension of the deadline to January 31, 2022 was subsequently granted.
Second stakeholder draft released September 7, 2021
Stakeholder draft released July 13, 2021
Notice to start rulemaking
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