Maine Amends Laws Related to Insurance Scores and Risk Classification

Maine Amends Laws Related to Insurance Scores and Risk Classification

The Maine Legislature has enacted Senate Bill 624, which implements changes to the laws governing insurers' use of factors for insurance scores and risk classification.

Among other things, Senate Bill 624 states:

  • When calculating an insurance score for underwriting and rating purposes, an insurer is prohibited from using an insurance score that is calculated using race, sex, sexual orientation, gender identity, religion, ancestry or national origin, income, address, zip code, or marital status of a consumer as a factor; and
  • When grouping risks by classifications for the establishment of rates and minimum premiums, no risk classification may be based upon race, religion, ancestry or national origin of the insured.  

The amendments take effect on August 8, 2022.

 

Link to ME SB 624