(a) Credit history may not be used to determine personal insurance rates or premiums or to make underwriting decisions unless the insurance scoring models are filed with the director. Insurance scoring models include all attributes and factors used in the calculation of an insurance score, statistical validation, documentation, appropriate loss information, and any other relevant factors.
(b) Information filed under (a) of this section
(1) is confidential, shall be considered a trade secret, and is not subject to public inspection under AS 21.06.060;
(2) may be released or otherwise shared as provided in AS 21.06.060; and
(3) shall be filed by the insurer and may not be filed by a third party or vendor.
(c) An insurer shall comply with AS 21.36.460 when using credit history to calculate a personal insurance score or determine personal insurance premiums or rates.
(d) Notwithstanding (b) of this section, the director shall make available to the public a general description of the insurance scoring models filed under (a) of this section. A general description of insurance scoring models may not disclose any trade secrets contained in the models.
(e) In this section,
(1) “credit history” has the meaning given in AS 21.36.460;
(2) “insurance score” has the meaning given in AS 21.36.460;
(3) “personal insurance” has the meaning given in AS 21.36.460.
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