January 12, 2021
Washington Insurance Commissioner Mike Kreidler’s bill to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums for auto, homeowners, renters and life insurance policies is set to be taken up in Senate …
July 27, 2020
Insurer groups are taking issue with push by Washington Insurance Commissioner Mike Kreidler to prohibit insurers from including information from consumer credit histories in the insurance scores used to calculate premiums for auto, homeowners, renters and life insurance policies. Kreidler …
July 15, 2020
Washington Insurance Commissioner Mike Kreidler reached out to insurance company CEOs in a letter and urged them to stand behind their recent pledges to end discrimination and racial inequities by supporting his proposal to ban the unfair practice of using …
June 17, 2020
Washington Insurance Commissioner Mike Kreidler is calling on the insurance industry to end its use of credit scoring in auto, property, renters and life insurance, citing the economic impact of the COVID-19 pandemic and the calls to end institutional racial …
April 22, 2020
The Texas Department of Insurance (TDI) has issued a reminder to carriers that Insurance Code Section 559.103 provides for exceptions to the use of credit scores affected by certain events, including temporary job loss. TDI said the exemption applies following …
February 12, 2013
One in 20 American consumers had mistakes on their credit reports that would have increased their interest rates on loans or caused them to pay more for insurance, the Federal Trade Commission said in a report released on Monday. Experian, …
December 19, 2012
With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights some of the changes that will take place around the country.
July 10, 2012
Virginia regulators are advising consumers to check their credit reports periodically for accuracy and ask their insurance companies about how their credit information may be affecting their policy.According to Virginia’s Bureau of Insurance, insurers look at many factors when determining …
July 9, 2012
Michigan Gov. Rick Snyder has signed a series of bills that will help insurance consumers by providing additional protections regarding the use of credit-based insurance scores, according to the Property Casualty Insurers Association of America (PCI). The package of insurance …
December 13, 2011
The Massachusetts Division of Insurance announced a $125,000 financial settlement with Progressive Direct Insurance Company. Regulators said Progressive erroneously informed some Massachusetts consumers that they had used credit information to determine their auto insurance rate through its website. Regulators said …