Prohibited Use of Credit History. With respect to private passenger motor vehicle insurance, an insurer may not: Refuse to underwrite, cancel, refuse to renew, or increase the renewal premium based wholly or partly on the credit history of the applicant or insured, including the absence of or inability to determine credit history; or Require a particular payment plan based wholly or partly on the credit history of the applicant or insured, including the absence of or inability to determine credit history. Permissible Use of Credit History. Subject to Regulations .06, .09, and .10 of this chapter, an insurer may use the credit history of an applicant to rate a new policy of private passenger motor vehicle insurance.