The bill amends Section 27-9-4 of the General Laws in Chapter 27-9, titled "Casualty Insurance Rating," to introduce new regulations regarding the establishment of automobile insurance rates. Key provisions include prohibiting insurance companies from considering factors such as education level, race, ethnicity, disability, occupation, income, credit scores, credit card reports, credit checks, gender, zip code or adjacent zip code, and census tract when determining premiums or eligibility for coverage. Instead, insurers are required to rely solely on the individual's driving record for the determination of premiums or rates charged for automobile insurance policies and for the acceptance or rejection of the individual's application for insurance coverage.

The act also includes a provision that any stipulation or condition made in a policy that requires the insured to accept any less sum than the full value of the policy in case of a claim shall be void. The bill is set to take effect on January 1, 2026, and will apply prospectively to any automobile insurance policies issued or renewed on or after that date.

Statutes affected:
5416: 27-9-4