San Diego–The National Conference of Insurance Legislators has given unanimous preliminary approval to a three year extension of model legislation regulating use of credit records to evaluate insurance risks.
State lawmakers and industry representatives agreed that the credit scoring legislation represented one of the single most successful efforts in NCOIL history to establish legislative standards on a controversial issue.
NCOIL approved the model law in November of 2002 and gave another approval for the measure yesterday at its annual meeting in San Diego in accordance with the "sunset" provision that would otherwise have seen the measure loose its NCOIL status.
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