Bill > SB507

This bill prohibits insurance companies in Georgia from using credit information, credit scores, or credit reports when determining insurance eligibility, pricing, or making other decisions related to personal insurance policies, which include private passenger automobile, homeowners, and similar individual policies. Specifically, it prevents insurers from using credit-related data for underwriting, setting rates, applying discounts or surcharges, canceling or not renewing policies, or any other action that impacts the cost or availability of personal insurance. The bill also forbids insurers from taking any negative action against a consumer based on their credit information, credit score, or the absence of a credit history, and prohibits the use of any methods that indirectly function as a proxy for credit information. This change will take effect on July 1, 2026, and apply to policies issued or renewed on or after October 1, 2026.

Business and Industry

https://www.legis.ga.gov/legislation/73187