An Act To Require Full Disclosure by Insurance Carriers Using Credit Ratings
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 24-A MRSA §2169-B, sub-§4-A is enacted to read:
4-A. Notice of effect of credit information. An insurer that obtains credit information on a consumer shall provide the consumer with notice of the consumer's credit rating and identify the impact of that rating on rates and coverage as part of the policy issued to the consumer.
summary
This bill requires an insurer that obtains credit information on a consumer to provide the consumer with notice of the consumer's credit rating and identify the impact of that rating on rates and coverage as part of the policy issued to the consumer.