With the Florida Legislature recently confirming the Oct. 2, 2008, legislative sunset of Florida’s public records exemption for credit scoring methodologies and related trade secret information, some insurers may have reason to be uneasy.

Pending bills in the current legislative session would prohibit the use of credit scores or credit reports in insurance underwriting. Companion Senate and House bills would amend the Unfair Insurance Trade Practices Act to prohibit the charging of motor vehicle insurance premiums based on credit information, the refusal to insure or continue to insure based upon an individual’s credit information, and the use of credit reports or credit scores in making rate and underwriting determinations.

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