state laws at your finger tips
in concise, plain language
Legislation watch

2011 Senate Bill 300: Restrict credit score use in insurance underwriting

Public Act 165 of 2012

Introduced by Sen. John Gleason (D) on March 24, 2011 To prohibit insurers from using “credit information” under a broad definition of that term contained in the bill to deny, cancel or choose to not renew a policy. Also, to impose restrictions on an insurer using credit or credit-based “insurance scores” to determine the price at which it will sell an insurance policy.   Official Text and Analysis.
Referred to the Senate Insurance Committee on March 24, 2011
Reported in the Senate on March 8, 2012 With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on May 1, 2012
The substitute passed by voice vote in the Senate on May 1, 2012
Passed 36 to 1 in the Senate on May 2, 2012 To prohibit insurers from using “credit information” (under a broad definition of that term contained in the bill) to deny cancel or choose to not renew a policy. Also, to impose restrictions, plus requirements for credit-status confirmation, disclosures and more, on an insurer using credit or credit-based “insurance scores” to determine the price at which it will issue an insurance policy.
Received in the House on May 2, 2012
Referred to the House Insurance Committee on May 2, 2012
Reported in the House on May 10, 2012 Without amendment and with the recommendation that the bill pass.
Amendment offered by Rep. Pete Lund (R) on May 16, 2012 To remove a tie-bar to several other insurance credit score bills, which would have meant this bill could not become law unless those ones dis also.
The amendment passed by voice vote in the House on May 16, 2012
Passed 103 to 4 in the House on May 22, 2012 To prohibit insurers from using “credit information” (under a broad definition of that term contained in the bill) to deny, cancel or choose to not renew a policy. Also, to impose restrictions, plus requirements for credit-status confirmation, disclosures and more, on an insurer using credit or credit-based “insurance scores” to determine the price at which it will sell an insurance policy.
Received in the Senate on May 23, 2012
Passed 35 to 1 in the Senate on May 31, 2012 To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on June 14, 2012

Comments