"I'm disappointed by today's ruling… I will continue the fight to permanently ban credit scoring and will be considering my options," Washington Insurance Commissioner Mike Kreidler said in a statement following Judge Wilson's Oct. 8 ruling. (Photo: Adobe Stock)
Washington insurers may continue credit-based rating practices after Superior Court Judge Mary Sue Wilson granted summary judgment on Oct. 8 to invalidate Insurance Commissioner Mike Kreidler's emergency ban of credit history in quoting personal lines insurance policies.
Kreidler's March 2021 order prohibited insurers from using credit scoring to set rates for personal auto, home and renters insurance for three years due to provisions in the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which impacted credit information. The order stated that consumer protections provided by the CARES Act resulted in incorrect information recorded by credit bureaus for some consumers, making them unreliable as a predictive tool for insurers.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
