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92_SB1910 LRB9215954JSpc 1 AN ACT concerning insurance. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Insurance Code is amended by 5 adding Section 155.39 as follows: 6 (215 ILCS 5/155.39 new) 7 Sec. 155.39. Premium determination; use of credit score 8 prohibited. 9 (a) For purposes of determining premium rates to be 10 charged for personal multi-peril property insurance policies 11 covering real property used principally for residential 12 purposes or any household or personal property that is usual 13 or incidental to the occupancy of any premises used for 14 residential purposes (commonly known as "homeowners" or 15 "renters" insurance), an insurance company authorized to do 16 business in this State may not establish premium rates that 17 are based, in whole or in part, upon an applicant's or 18 insured's credit report or credit score. 19 (b) As used in this Section, "credit report" means a 20 collection of data regarding a consumer's credit history, 21 credit capacity, or credit worthiness that has been assembled 22 or evaluated by a consumer reporting agency as defined in 15 23 USC 1681a(f) and "credit score" means a numerical value or a 24 categorization derived from a statistical tool or modeling 25 system designed to predict certain credit behaviors.
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