Z-0341.1
SENATE BILL 5589
State of Washington
69th Legislature
2025 Regular Session
By Senators Hasegawa, Kauffman, Lovelett, Nobles, Saldaña, Stanford, and C. Wilson; by request of Insurance Commissioner
Read first time 01/30/25. Referred to Committee on Business, Financial Services & Trade.
AN ACT Relating to conducting a study of credit history, credit-based insurance scores, and other rate factors that may disparately impact Washington residents, in making rates for personal insurance; creating a new section; and providing an expiration date.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) The legislature finds that insurers' use of credit history, credit-based insurance scoring models, and other rate factors that may disparately impact Washington residents, to make personal insurance rates, may be impacting Washington residents in unintended or unacceptable ways. The legislature further finds that establishing public policy for ensuring personal insurance availability and pricing that is consistent with legislative expectations requires actuarial evaluation of insurers' current use of credit history, credit-based insurance scores, other rate factors that may have disparate impacts on Washington residents, and alternatives to their use, for purposes of rates, premiums, or eligibility for coverage.
(2) The office of the insurance commissioner shall conduct a study of insurers' use of credit history, credit-based insurance scores, other rate factors that may have disparate impacts on Washington residents, and alternatives to their use, in determining personal insurance premiums, rates, or eligibility for coverage, and the associated impacts to consumer costs and the availability of insurance.