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Colorado bill prohibits insurer use of 'discriminatory' data

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Posted at 6:55 AM, May 04, 2021
and last updated 2021-05-04 09:01:39-04

DENVER (AP) — 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, religion, gender and other factors.

Such data also includes a person'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.

The measure passed the Senate Business, Labor, & Technology committee on Monday.