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Insurers Mount Legal Challenge to Multi-state Credit Scoring Study; Ask States to Withdraw Data Call
National News • June 23, 2004
Two national insurance company trade organizations have expressed legal concerns about the recently initiated multi-state study on credit-based insurance scores and have asked regulators in eight ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: credit scoring | Kemble | Jul 20, 2005, 12:25 pm |
| RE: RE: predators at the gate | Robert | Jun 29, 2004, 6:53 am |
| Credit Scorning | Rolf Neuschaefer | Jun 24, 2004, 11:42 am |
| credit scoring | steve | Jun 23, 2004, 6:07 pm |
| RE: predators at the gate: Joan | John | Jun 23, 2004, 1:20 pm |
| RE: RE: predators at the gate | John | Jun 23, 2004, 1:19 pm |
| RE: predators at the gate | Joan | Jun 23, 2004, 1:14 pm |
| credit scoring | elane | Jun 23, 2004, 12:30 pm |
| Credit Scoring is Discrimination | LG | Jun 23, 2004, 12:26 pm |
| predators at the gate | John | Jun 23, 2004, 12:19 pm |
| Back to article | ||
Subject: RE: credit scoring
Many people with bad credit scores are those who are young and those who live in urban areas. Thay happen to be bad risks in traditional sense. Some people have a bad credit score because they were irresponsible in their financial decisions, or forgot to do something that they should did, both of which are definitely not good for vehicle/home ownership.
I am in insurance industry and did not like credit scoring at first. But the data does show some relation between claim costs and credit score. It's just matters of to what degree this relation holds and how much this relation is contributed from other factors, such as age, risk location.