Regulatory Alerts2010-01-01 | Bulletin 2010-4Oregon Insurance Division Bulletin 2010-4: Credit Scoring Legislation
The Oregon Insurance Division issued Bulletin 2010-4 to clarify insurer obligations under Senate Bill 377 regarding the rerating of personal insurance policies based on credit history. The bulletin specifies that consumers may request a rerate only if their policy was previously rated using credit information, and mandates that successful reratings resulting in lower premiums must be applied to all related policy lines held by the consumer. Additionally, the guidance defines 'policy line' as products serving similar purposes and confirms that separate business entities are not required to rerate policies across affiliates.
Share