Oregon Measure 42, Credit Score to Determine Insurance Premiums Initiative (2006)
| Oregon Measure 42 | |
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| Election date |
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| Topic Insurance policy |
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| Type Initiated state statute |
Origin |
Oregon Measure 42 was on the ballot as an initiated state statute in Oregon on November 7, 2006. It was defeated.
A "yes" vote supported prohibiting insurance companies from using credit scores of applicants to calculate rates. |
A "no" vote opposed prohibiting insurance companies from using credit scores of applicants to calculate rates. |
Election results
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Oregon Measure 42 |
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| Result | Votes | Percentage | ||
| Yes | 479,935 | 35.39% | ||
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876,075 | 64.61% | ||
Text of measure
Ballot title
The ballot title for Measure 42 was as follows:
| “ | PROHIBITS INSURANCE COMPANIES FROM USING CREDIT SCORE OR "CREDIT WORTHINESS" IN CALCULATING RATES OR PREMIUMS RESULT OF "YES" VOTE: "Yes" vote prohibits insurance companies and their agents from using the credit score or "credit worthiness" of insured or applicant in calculating rates or premiums. RESULT OF "NO" VOTE: "No" vote retains existing law, which restricts, but does not prohibit, the use of credit scores or "credit worthiness" in calculating insurance rates or premiums. SUMMARY: Current state law requires certain disclosures before a consumer's credit history may be obtained by an insurance company or agent and provides certain restrictions on the use of a consumer's credit history in determining insurance rates. This measure prohibits insurance companies and agents that sell or market medical, health, accident, automobile, fire, or liability insurance, or any combination of policies providing such coverage to consumers from quoting, offering, or charging, directly or indirectly, rates or premiums based solely or in part upon the credit score or "credit worthiness" of an insured or an applicant for insurance. This measure does not apply to policies already in effect, but it shall apply to all policies commenced, changed, amended, or renewed after the measure's effective date. Other provisions. ESTIMATE OF FINANCIAL IMPACT: There is no financial effect on state or local government expenditures or revenues | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
An initiated state statute is a citizen-initiated ballot measure that amends state statute. There are 21 states that allow citizens to initiate state statutes, including 14 that provide for direct initiatives and nine (9) that provide for indirect initiatives (two provide for both). An indirect initiated state statute goes to the legislature after a successful signature drive. The legislatures in these states have the option of approving the initiative itself, rather than the initiative appearing on the ballot.
In Oregon, the number of signatures required for an initiated state statute is equal to 6% of the votes cast in the last gubernatorial election. A simple majority vote is required for voter approval.
See also
External links
Footnotes
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State of Oregon Salem (capital) |
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