Relates to prohibiting the consideration of credit history in the underwriting, cancellation, renewal or calculation of cost of homeowners' insurance

Summary

The bill prohibits insurance companies from refusing to underwrite, canceling, or refusing to renew a homeowners' policy, or setting its cost, based on an applicant's or insured's credit history. It applies to all homeowners' insurance carriers operating in New York and aims to prevent credit‑based discrimination in the market. By removing credit as a factor, the measure seeks to make coverage more equitable for homeowners.

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