An Act To Clarify the Use of Insurance Scores
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 24-A MRSA §2169-B, sub-§5-A is enacted to read:
5-A. Rescoring. An insurer that uses insurance scores to underwrite or rate risks, upon request of the insured but no more often than once every 12 months, shall obtain an updated credit report and recalculate the insurance score and shall reunderwrite and rerate the consumer within 30 days of receiving the request. After reunderwriting or rerating the insured, the insurer shall make any adjustments necessary, consistent with its underwriting and rating guidelines, on the anniversary date or the effective date of the renewal of the policy.
Effective September 20, 2007