Regulation .04 Homeowner's Insurance — Prohibition on Use of Credit History.
Regulation .04 Homeowner's Insurance — Prohibition on Use of Credit History.LinkCopy Citation
With respect to homeowner's insurance, an insurer may not:
A.
Refuse to underwrite, cancel, or refuse to renew a risk based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history;
B.
Rate a risk based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history, in any manner, including:
(1)
Providing or removing a discount or imposing or removing a surcharge;
(2)
Assigning the insured or applicant to a tier; or
(3)
Placing an applicant or insured with an affiliated insurer; or
C.
Require a particular payment plan based wholly or partly on the credit history of an applicant or insured, including the absence of or inability to determine credit history.