OAR 836-080-0435: Policies Governing Credit Histories and Insurance Scores

Each insurer that uses credit histories or insurance scores in the rating or underwriting, or both, of prospective applicants, applicants or policyholders for personal insurance shall establish a written policy that includes at least the following: (1) An explanation of credit histories or insurance scores, or an explanation of both if the insurer uses both, and the insurer's standards governing their use. (2) Rating and underwriting protocols, rules and instructions relating to credit histories or insurance scores. The protocols, rules and instructions shall include an explanation of the insurer's consideration and treatment, for underwriting purposes and for rating purposes, of: (a) A consumer for whom the insurer or provider of credit scoring information has found no credit records (a "no hit"), and whether the insurer may make exceptions. (b) A consumer for whom the insurer or provider of credit history or insurance score information has found a credit record but insufficient credit activity for creating a credit score (a "no score"), and whether the insurer may make exceptions.