Relating to use of credit scores in applications for insurance

HB 5263 prohibits West Virginia insurers from using credit scores or the number of credit inquiries to deny or rate auto liability or homeowners insurance applications. It specifically bans credit scoring as a factor in determining rates for these policies and prevents insurers from relying on disputed or potentially inaccurate credit information. The bill directly affects applicants seeking auto or homeowners insurance in West Virginia by removing credit history as a criterion for coverage decisions. This policy change ensures insurers must base rate decisions on other underwriting factors, not credit-related data.