DENVER — Colorado lawmakers are considering a bill that would prohibit insurance companies from using consumer information collected from outside sources such as social media and court and home ownership records to determine insurance rates.
The measure would bar insurers from using third-party site data to charge higher insurance premiums based on race, national or ethnic origin, religion, gender, sexual orientation or disability. Such data also includes a consumer’s credit score, purchasing habits and level of education.
The bill also applies to discriminatory data in algorithms and predictive modeling, systems used by insurance companies to assess risk-based characteristics that affect a customer’s proposed rate.
It passed the Senate Business, Labor, & Technology committee on…
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