Prohibiting use of a person’s credit history in certain insurance transactions

HB 3286 prohibits West Virginia insurers from using a person's credit history to make decisions about specific insurance policies. It directly affects residents applying for or holding passenger vehicle, residential property, or other personal insurance policies. The bill bans insurers from refusing coverage, canceling policies, increasing premiums, setting rates (including discounts or rating tiers), or requiring payment plans based on credit history. This creates a concrete policy change requiring insurers to base decisions solely on other factors, not credit data. The law applies to all insurers operating in West Virginia for these covered insurance lines.