AN ACT PROHIBITING THE USE OF CREDIT HISTORY OR RACE IN UNDERWRITING AUTOMOBILE LIABILITY OR HOMEOWNERS INSURANCE.

This bill prohibits insurance companies from using credit history or race when setting prices for auto liability or homeowners insurance policies. It directly affects insurers, requiring them to stop considering these factors in their pricing decisions, and impacts consumers who may see changes in their insurance rates. The key provision bans the use of credit scores and racial data in determining policy costs, mandating that insurers base premiums on other risk factors like driving records or property safety. The law applies to all auto and homeowners insurance policies sold in the state.