Insurers Overturn Fla. Restriction on Use of Credit Scoring
Southeast News • January 4, 2007
A Florida Administrative Law Judge has declared that the Florida Office of Insurance Regulation's rule restricting the use of credit information by insurers is invalid.
In a Dec. 29 ruling, Judge ...
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Subject: Credit Scoring for Ins. Rating purposes
Posted On: January 4, 2007, 1:23 pm CST
Posted By: Richard DaSilva
Comment:
The purpose of this discrimatory 'tool' is to bump premiums whenever possible as it is shown now for several years...or is someone saying premiums came down lately.
The false statistics...what's the saying that liars figure and figures lie sounds about right regarding the analogy of low credit scores = high claim input..that is skewered since low credit scores go hand in hand with low income folks which then can be figured as a disproportiate sector in claim filing. Sure credit is a tool I guess but it is one for one purpose only. And yea, I have worked in the insurance claims field folks for a considerable time frame in multiple states and with companies and others and bs is still the same. The political-economic agends is what controls ; not equity.
Subject: Credit Scoring for Ins. Rating purposes
The false statistics...what's the saying that liars figure and figures lie sounds about right regarding the analogy of low credit scores = high claim input..that is skewered since low credit scores go hand in hand with low income folks which then can be figured as a disproportiate sector in claim filing. Sure credit is a tool I guess but it is one for one purpose only. And yea, I have worked in the insurance claims field folks for a considerable time frame in multiple states and with companies and others and bs is still the same. The political-economic agends is what controls ; not equity.