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Maine Passes Insurance Scoring Bill Based on NCOIL Model

The Maine legislature has passed a bill to regulate the use of credit information that follows the National Conference of Insurance Legislators' (NCOIL) model on...
May 20, 2003

The Maine legislature has passed a bill to regulate the use of credit information that follows the National Conference of Insurance Legislators' (NCOIL) model on credit-based insurance scoring. H.B. 362 originally was very restrictive, but was then changed to follow the NCOIL model. The privacy provisions of the bill mirror the privacy requirements of the federal Gramm-Leach-Bliley Act (GLBA), which provides consumers with a choice to opt out of the sharing of some information by financial services institutions.