The Michigan Supreme Court has agreed to hear a case involving a ban on the use of credit scoring by insurance companies.
In 2005, the Office of Financial and Insurance Regulation’s (OFIR) promulgated rules banning the use of insurance credit scoring.
The Insurance Institute of Michigan, the Michigan Insurance Coalition, and several insurers challenged the rules that are currently stayed from enforcement.
The issue has been working its way through the legal system for the last four years.
“This is good news for Michigan consumers,” OFIR Commissioner Ken Ross said. “After four years of waiting, we are hopeful that the court resolves this issue in favor of Michigan drivers.”
The court will begin hearing arguments in October, 2009.
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