Alice Yao - AYAO Insurance
12700 NE 124th St #9, Kirkland, WA 98034
WAOIC #716776

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Credit Scoring Ban

Credit Scoring Ban

*Updated on October 15th to reflect the latest ruling.

As insurance professionals, one of the most important things is continuing to stay updated on rules and regulations within the insurance industry.

The Washington Superior Court recently upheld the Washington State Insurance Commissioner's emergency rule to stop all property and casualty insurers in the state of Washington from using credit-based insurance scoring as a factor in rates for personal property for three years.

The rule applies to policies with coverage terms beginning on or after June 20, 2021.

Below is the timeline of events relating to this emergency rule and also reference links for more information. 

March 22, 2021

Emergency Rule Banning Credit Scoring

WA State Insurance Commissioner Mike Kreidler issued an emergency rule banning usage of credit scoring relating to insurance premium calculation.

March 22, 2021

April 23, 2021

Court Denies Challenge To The Ruling

A Thurston County Superior Court judge denies the challenge to halt the emergency rule. 

May 6th, 2021

Deadline To Submit New Rate Plan

Insurance companies have until end of day on May 6th to file rating plans that comply with the emergency rule.

May 6th, 2021

June 20, 2021

Emergency Rule Takes Effect

Emergency ruling to ban credit scoring usage for insurance will take place starting on June 20, 2021.

October 8th, 2021

Judge Overturns Emergency Order

A Thurston County Superior Court Judge made a ruling to overturn the emergency order, citing that the Insurance Commissioner did not have a "good cause" to file the order as an emergency.

October 8th, 2021

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AYAO Insurance
12700 NE 124th St #9
Kirkland, WA 98034

Alice Yao
WAOIC #716776