Regulatory Alerts2003-01-01 | Bulletin 2003-8Bulletin 2003-8: Credit Scoring (Insurance Scoring) Legislation - SB 260
The Oregon Insurance Division issued Bulletin 2003-8 to inform insurers of the new limits imposed by Senate Bill 260 on the use of insurance scoring and credit history for personal insurance underwriting and rating. The legislation prohibits canceling policies based on credit scores, restricts using disputed credit for rating without retroactive adjustment, and mandates that insurers file compliant scoring models and statistical support with the Division. The Bulletin outlines specific filing requirements for compliance by January 1, 2004, and announces upcoming market conduct examinations to monitor adherence to these statutory changes.
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