Gerald Cardinale Did Not Vote on this Legislation.
Title: Prohibits Using Education, Occupation, Homeownership or Marital Status and Credit Scores in Determining Auto Insurance
Vote to pass a bill that prohibits using education, occupation, homeownership or marital status and credit scores in determining auto insurance.
Prohibits automobile insurers from assigning risk to a rating plan based on purchaser’s (Sec 15. P.L. 1997, C.151):
Education level;
Employment, trade business, occupation or profession;
Employment status;
Homeownership status;
Marital status; or
Credit score, or any information derived from an insured's credit report.
Prohibits automobile insurers from using the aforementioned characteristics to calculate a rate or determine a consumer’s eligibility for insurance (Sec. 15.a).
Establishes a fine of no less than $1000 for every violation of the Act’s provisions (Sec. 15.a).
Requires that the Act take effect 90 days after enactment (Sec. 15-2).
Title: Prohibits Using Education, Occupation, Homeownership or Marital Status and Credit Scores in Determining Auto Insurance