Credit Scoring News

$12 Million Recovered for Colorado Insurance Consumers, State Claims

Colorado insurance regulators fielded more than 25,500 inquiries from consumers in the past year, resulting in a total of nearly 5,000 formal grievances. During this period, the investigation of these grievances amounted to more than $12 million being recovered for …

Where Georgia’s Insurance Commissioner Candidates Stand

Hudgens, Squires and Bruce on Credit Scoring, Tort Reform, Role of Independent Agents and State Regulation Georgia voters going to the polls on Nov. 2 will have a real choice when it comes to electing the state’s next insurance commissioner. …

Georgia Insurance Commissioner Race: Attracting Insurers, Value of Agents

The three politicians who want to be Georgia’s next insurance commissioner see eye-to-eye on the need for the insurance regulator to be involved in attracting new insurers and insurance jobs to the state. According to an Insurance Journal survey, Democrat …

Georgia Insurance Commissioner Race: Top Priorities, State Role, Money

One candidate to be Georgia ‘s next insurance commissioner thinks the state should build on its risk management schools to become a national leader in alternative risk transfer innovation. Another wants the state to eliminate its tax on premiums and …

Georgia Insurance Commissioner Race: Views on Credit Scoring, Tort Reform

Georgia voters going to the polls on Nov. 2 will have a choice when it comes to electing the state’s next insurance commissioner. The Democratic, Republican and Libertarian candidates cite different priorities; hold different positions on issues including credit scoring, …

Nebraska: Information from On-Board Sensors in Filings Must Be Complete

The Nebraska Department of Insurance says auto insurance companies are increasingly using information obtained from on-board sensors in establishing premium rates. The department is concerned that some of that information may not be complete in insurers’ rate filings for both …

Oregon Clarifies Credit Scoring Re-Rating Rules

The Oregon Insurance Division has issued a bulletin to clarify the use of consumer credit information for personal insurance policies. According to the Department of Consumer and Business Services, Senate Bill 377 passed in the 2009 Legislative session, expanding the …

Michigan Supreme Court Lifts Ban on Use of Credit Scores by Insurers

The Michigan Supreme Court has ruled that the administration of Gov. Jennifer Granholm exceeded its authority when it banned the use of credit scoring by insurance companies in the state. The decision means insurers in Michigan can continue to use …

Washington Commissioner Criticizes Insurers’ Credit Score Use

Washington Insurance Commissioner Mike Kreidler is taking aim at insurers’ use of credit scores, warning consumers that large drops in credit scores could lead them to pay 8 percent to 15 percent more for insurance. Meanwhile, several insurance associations say …

Michigan Supreme Court Lifts Ban on Use of Credit Scores by Insurers

The Michigan Supreme Court has ruled that the Granholm Administration exceeded its authority when it banned the use of credit scoring by insurance companies in the state. The decision means insurers in Michigan can continue to use credit scoring in …