OLYMPIA, Wash. — A senate bill proposing a study of the impact of rating factors, including credit history passed out of committee in the Washington State Senate on Thursday.
Senate Bill 5589, proposed by Washington State Insurance Commissioner Patty Kuderer and sponsored by Sen. Bob Hasegawa (D – Seattle), requires Kuderer’s office to conduct a study on how insurance companies use credit history, credit-based insurance scores and other rate factors that may have disparate impacts on Washington residents. The study would also explore alternatives to credit scoring that companies could use in determining premiums.
