Bill
Bill > LD2220
ME LD2220
ME LD2220An Act to Prohibit Insurers from Using Credit Information as a Factor in Certain Insurance Practices
summary
Introduced
02/20/2024
02/20/2024
In Committee
02/20/2024
02/20/2024
Crossed Over
04/03/2024
04/03/2024
Passed
Dead
04/11/2024
04/11/2024
Introduced Session
Potential new amendment
131st Legislature
Bill Summary
This bill prohibits insurers from using the credit information of an applicant or policyholder as a factor in making any of several determinations regarding policies covering private passenger motor vehicles and commercial vehicles. The bill provides that the prohibition applies notwithstanding any provision of law to the contrary.
AI Summary
This bill prohibits insurers from using the credit information of an applicant or policyholder as a factor in making various determinations related to insurance policies covering private passenger motor vehicles and commercial vehicles. This includes decisions about underwriting, cancellation, renewal, premiums, discounts, risk rating tiers, billing or payment plans, and placement with affiliated companies. The bill states that this prohibition applies notwithstanding any other provision of law.
Committee Categories
Health and Social Services
Sponsors (5)
Last Action
Died Between Houses, Apr 11, 2024 (on 04/11/2024)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2220&snum=131 |
| Senate: C-A (S-649) | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0950&item=2&snum=131 |
| Fiscal Note: C-A (S-649) | https://legislature.maine.gov/legis/bills/bills_131st/fiscalpdfs/FN222002.pdf |
| Fiscal Note: Text | https://legislature.maine.gov/legis/bills/bills_131st/fiscalpdfs/FN222001.pdf |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0950&item=1&snum=131 |
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