Bill > SB1435

This bill prohibits insurance companies in Oklahoma from using credit information when underwriting or setting rates for personal insurance policies, meaning factors like your credit score will no longer be a basis for determining your insurance premiums or whether you can get coverage. It also prevents consumer reporting agencies, which are companies that collect and sell consumer credit information, from providing or selling data related to insurance inquiries or credit reports used for insurance purposes, with limited exceptions for sharing information back with the original insurer or agent. Additionally, the bill repeals several existing sections of Oklahoma law related to the use of credit information in insurance and sets an effective date of November 1, 2026, for these changes.

Business and Industry

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1435&Session=2600