General Assembly

 

Proposed Bill No. 408

<Session Name>

 

LCO No. 1691

   

Referred to Committee on Insurance and Real Estate

 

Introduced by:

 

SEN. FONFARA, 1st Dist.

 

AN ACT CONCERNING THE USE OF CREDIT HISTORY IN AUTOMOBILE INSURANCE RATING.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That chapter 701 of the general statutes be amended to prohibit the use of automobile insurance rate classifications that are based on limited credit history factors such as bankruptcy, foreclosure and liens, and to require that classifications based on an insured's credit history take into account a greater variety of credit history factors as is done in other states.

Statement of Purpose:

To revise the standard for using an insured's credit history to establish automobile insurance rates.