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Prohibits the use of external consumer data and information sources being used when determining insurance rates; provides that no insurer shall unfairly discriminate based on race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender…
This bill prohibits insurers from using external consumer data and predictive models that unfairly discriminate based on protected characteristics.
If you operate an insurance company, you must eliminate the use of external consumer data for rate determination by January 1, 2025, or face penalties.
What do these statuses mean? ▼
Affected Industries
Topics How we classify →
What This Means
The proposed legislation aims to ensure fairness in insurance pricing by prohibiting the use of external consumer data and predictive models that may lead to discrimination based on race, gender, and other protected characteristics.
Key Provisions
- Prohibits unfair discrimination in insurance rates based on protected characteristics.
- Bans the use of external consumer data and predictive models that lead to discrimination.
Latest Legislative Action
referred to insurance
Bill Sponsors
| Name | Role |
|---|---|
| Brian Cunningham D | Primary |
| DENDEKKER | Primary |
| LAVINE | Primary |
| Phil Steck D | Primary |
| RA | Primary |
Compliance Checklist
Who: Insurers
Deadline: To be determined by the superintendent's rules
Penalty: Regulatory actions by the superintendent
Who: Insurers
Deadline: As specified by the superintendent's rules
Penalty: Regulatory actions by the superintendent
Related & Companion Bills
Full Legal Analysis
Official Source
Related Topics
Affected Industries
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