Sec. 20. (a) An
insurer that uses an
insurance score to underwrite and rate risks shall file the insurer’s scoring models or other scoring processes with the
department.
Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 27-2-21-20
- credit information: means credit related information:
Indiana Code 27-2-21-7
- department: refers to the department of insurance created by IC 27-1-1-1. See Indiana Code 27-2-21-9
- insurance score: means a number or rating that is derived from an algorithm, computer application, model, or other process that is based on credit information for the purpose of predicting the future insurance loss exposure of an individual consumer. See Indiana Code 27-2-21-11
- insurer: refers to an insurer (as defined in IC 27-1-2-3) that issues a personal insurance policy. See Indiana Code 27-2-21-13
(c) A filing that includes insurance scoring may include loss experience justifying the use of credit information.
(d) A filing related to credit information is confidential.
As added by P.L.201-2003, SEC.1.
