Emergency Rule Bans Credit Scoring in Washington for 3 Years | Seattle Real Estate Podcast

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Washington state Insurance Commissioner Mike Kreidler has issued an emergency rule prohibiting insurers from using credit scoring to set rates for personal property for three years after the current coronavirus pandemic is declared over.

The rule comes after a bill that would have permanently banned the practice stalled in the Legislature after being amended.

The commissioner's decision drew an immediate rebuke from some insurance companies and their lobbying group, saying the move would prevent insurers from providing affordable rates to Washington state drivers.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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