5. HB 671 3rd Reading

Passage. RV #314, 5/6/97, p 1957 HB 671 passed 71-71.

YCT Nay. This bill would prohibit insurers from making an underwriting decision based partly or solely on a credit report for auto, homeowner, farmowner, or fire insurance policies. This proposed government regulation would have kept insurance underwriters from making necessary reviews on an applicant’s creditworthiness. This bill prevents the making of informed decisions, thereby creating a greater burden and risk for the insurance companies and for those who hold insurance.