Mich. enacts new laws on insurers' credit-score use

03/31/2013 | Insurance Journal

New laws in Michigan are in place regarding insurers' use of consumers' credit scores in determining rates. Insurers will be required to inform policyholders of any changes to rates or coverage based on credit scores. Carriers also are barred under the new measures from using credit information as a basis to reject applications, cancel policies and refuse policy renewals, according to this article.

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