Bill > HB1748

This bill directs the Washington State Office of the Insurance Commissioner to conduct a comprehensive study examining how insurers use credit history, credit-based insurance scores, and other rating factors when determining personal insurance premiums, rates, and coverage eligibility. The study aims to understand whether these practices disparately impact Washington residents across different races, ethnicities, sexes, socioeconomic statuses, and national origins. The insurance commissioner will be required to collect data from insurance entities, contract with actuaries and consultants to analyze current rating practices, identify alternative rating factors that do not create disparate impacts, and evaluate the potential effects of different rating approaches on consumer costs and insurance availability. The commissioner must submit a preliminary report to legislative policy committees by December 31, 2025, and a final report by September 15, 2026, which will include policy recommendations about potentially allowing, prohibiting, or conditionally using credit history and other rating factors in personal insurance. The bill ensures the confidentiality of individual company data while allowing aggregate, anonymized findings to be publicly available, and the study provisions will expire on December 31, 2033.

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https://app.leg.wa.gov/billsummary?BillNumber=1748&Year=2025&Initiative=false