Posted On: November 9, 2006, 1:36 pm CST

Posted By: anonymous

I can tell that several of you don't understand insurance credit scoring very well.

You all are aware that your insurance credit score is not the same as your regular lending credit score aren't you?

For example, many insurance companies exclude items such as Medical Related charges specifically for the reasons mentioned earlier in these messages and b/c they have poor predictive power. If you want to see a good example google Allstate's most recent credit scoring model they were forced to disclose.

Also, I think some people on here have misguided concepts of what is fair. I have built and maintained a good credit score. I don't think it is fair to prevent me from using that to my advantage to obtain a better insurance rate. It isn't my job to subsidize worse insurance risks than myself. In fact, that sounds the oppossite of fair.

If you want insurance welfare, at least do it explicity through direct government subsidization of insurance premiums for high risk insurance customers rather than the hidden taxation currently in place by way of manipulating, restricting, and regulating insurer rating plans. At least through explicit subsidization, voters can see the actual costs and vote accordingly in a demogractic fashion to either expand or contract the subsidies.