Summary


The proposed rules implement the provisions of Section 626.9741, F.S. created by Senate Bill 40-A. Rule 69O-125.005, F.A.C., requires the review and approval of an insurers use of credit reports and credit scores, requires submission of specified information and verification that the models, methods, programs and other processes are accurate predictors of risk and are in compliance with the provisions of Section 626.9741, F.S. and Rule 69O-125.006, F.A.C., provides standards that ensure that rates or premiums associated with the use of a credit report or score are not unfairly discriminatory. The rule specifies the statistical requirements and standards for the testing of credit scoring methodologies to assure they do not have a disproportionate impact on the classifications specified in Section 626.9741(8)(c), F.S.