§ 26-2-134 — Limiting the use of credit scoring; rulemaking

Wyoming § 26-2-134

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 2: THE INSURANCE COMMISSIONER

Text

(a) The commissioner is authorized to adopt rules as
necessary to govern the practices of all persons licensed under
this code with respect to the use of credit scoring in the
underwriting of personal lines, motor vehicles and homeowner
policies. The rules shall provide:
(i) That a person's credit history or scoring shall
not be the sole basis to cancel, deny or nonrenew an insurance
policy. An insurer may use credit history only in combination
with other valid underwriting factors independent of credit
history or score;
(ii) That an insurer shall provide notice to the
person when credit scoring is being used to underwrite a policy
and when use of credit scoring is adverse to the person;
(iii) That the consumer is adequately protected
against unfair discrimination in the use of credit scoring to
underwrite policies.
ARTICLE 2
FUNDING