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52Nov 3 election

Motor vehicle insurance; unfair discrimination based on individual's consumer credit info., report.

It became law on Apr 13.

VA SB 693 · Senate Bill · 2026

Stage
Became law
Started in
Senate
Sponsors
Latest action
Apr 13

Where it stands

  1. Introduced (Done)

  2. Committee (Done)

  3. Floor (Done)

  4. Law (Done)

    Apr 13

What it does

Motor vehicle insurance; use of certain factors to establish rates prohibited. Prohibits an insurer from refusing to insure, refusing to continue to insure, or limiting the amount or extent of motor vehicle insurance coverage, or charge an individual a different rate for the same motor vehicle insurance coverage, solely because of such individual's consumer credit information or credit-based insurance score. The bill also directs the State Corporation Commission's Bureau of Insurance to study the use by insurers of an insured's or applicant's consumer credit information or credit-based insurance score in connection with underwriting motor vehicle insurance polices and to submit a report of its findings and recommendations by October 1, 2027.

Read the full text

Where it goes next

Law in Virginia. Agencies now write the rules that carry it out, and courts can stay or strike it.

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Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

In the news

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