State of Illinois
92nd General Assembly
Legislation

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92_HB3554

 
                                               LRB9206458JSpc

 1        AN ACT concerning insurance.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  Illinois  Insurance  Code is amended by
 5    adding Section 155.37 as follows:

 6        (215 ILCS 5/155.37 new)
 7        Sec.  155.37.  Underwriting  practice;   credit   scoring
 8    prohibited.
 9        (a)  A  company  may  not  utilize  credit  scoring  as a
10    criterion in its underwriting standards.
11        (b)  As used in this Section, "credit scoring" means  the
12    utilization  of a risk assessment methodology that results in
13    the placement of  an  insured  or  proposed  insured  into  a
14    predetermined  category  for  purposes of deciding whether to
15    extend coverage to the insured or proposed insured.

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