Maine: NAMIC Opposes Auto Underwriting Restriction Bill

NAMIC testified at the Feb. 27 hearing of the Health Coverage, Insurance and Financial Services Committee in opposition to LD 2220, which would prohibit insurers from using the credit information of an applicant or policyholder as a factor in making any of several determinations regarding policies covering private passenger motor vehicles and commercial vehicles.

NAMIC highlighted the importance of being able to use multiple factors, including credit information, and warned enactment of this legislation would result in “higher and unfair auto insurance premiums for Maine drivers.”