Posted On: January 30, 2008, 7:32 am CST

Posted By: SWFL Mark

Several insurance carriers actually use their own credit scoring method and address the "inquiry" issue by removing it in their calculation.

I don't believe any of the people posting comments on this site would disagree that there must be some correlation between company losses and credit. If there wasn't, companies wouldn't be spending the time and resources to develop the rating methods and defend it's use. They're not using it for the sake of publicity are they? The overwhelming objection seems to be the "fairness" issue. What makes the use of credit anymore unfair than gender and marital status? Is it because we've always used these underwriting variables so they're okay? I rather gender & marital status go away because I can't control them like I can my credit and driving record.

While there are exceptions to the rule, just like the guy who has 4 speeding tickets but never has a wreck, people who have used credit wrecklessly & don't care about personal responsibilty, are more likely to have driving habits that parallel their personal behavior.