price optimization ban News

The Missouri Department of Insurance has issued a bulletin to Missouri insurers reminding them that the rating practice generally known as “price optimization” is prohibited in the state. “Price optimization” is the practice of measuring and modifying insurance prices based …

Minnesota Commerce Commissioner Mike Rothman has ordered insurers doing business in Minnesota to stop the practice of price optimization in setting rates for auto and homeowners insurance. Rothman said the anti-consumer practice violates state law because it unfairly discriminates by …