Modifies provisions relating to the use of credit information when underwriting insurance contracts

This bill modifies how insurance companies in the state can use credit information to decide whether to offer policies, renew them, or charge premiums. It directly affects insurance applicants and policyholders by requiring insurers to consider non-credit factors before taking adverse actions like denying coverage or raising rates based on a credit score. Key provisions mandate that insurers disclose when they use credit data, provide specific notices if a credit score leads to a denial, and allow applicants to request re-underwriting after correcting errors in their credit report. Additionally, the bill prohibits insurers from using disputed credit information until a dispute is resolved and restricts the use of credit scores for renewing existing policies.