The bill amends Section 27-9-4 of the General Laws in Chapter 27-9 entitled "Casualty Insurance Rating" to ensure that automobile insurance rates are determined fairly. It specifies that rates must consider various factors such as past and prospective loss experience, catastrophe hazards, and expenses, but must not take into account any loss or incident involving bus drivers, law enforcement officers, or commercial vehicle drivers while in the course of employment when determining personal vehicle insurance rates. Additionally, the bill prohibits discrimination based on age for drivers 65 or older with a clean driving record for the past three years.

Furthermore, the bill introduces new provisions to prevent discrimination in automobile insurance policies. Insurance companies are prohibited from using education level, race, ethnicity, disability, occupation, income, credit checks, gender, zip code, or census tract to determine rates, premiums, or eligibility for coverage. Instead, companies must rely solely on the individual's driving record. The bill also includes measures to protect against non-renewal of policies based on age or minor accidents and claims. The Department of Business Regulation will enforce these provisions, which will take effect on January 1, 2025, and apply to any policy for automobile insurance coverage issued or renewed on or after that date.

Statutes affected:
7288: 27-9-4