Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate With consumers’ credit scores dropping as lenders tighten credit terms, insurance consumer advocates are stepping up their criticism of the use of credit scores by insurance companies. …
Consumer Advisors See Pros and Cons to Internet; Role of Independent Agent Clouded By Commissions Insurance Journal spoke with some of the National Association of Insurance Commissioners (NAIC) consumer liaisons and found that in addition to credit scoring, their issue …
Loss of Faith in Insurance Providers Would Affect Sales, Advocates Say Insurance agents, brokers and regulators should be aware that when it comes to insurance, consumers are concerned with such issues as the use of credit scores in determining rates, …
Reforms to the Texas insurance regulatory system put in place by Senate Bill 14 in 2003 are under attack by a coalition of state lawmakers who have filed bills to, among other things, return the rate setting process for personal …
The National Association of Insurance Commissioners (NAIC) has adopted a proposal to review the use of credit-based insurance scoring. The NAIC said it will convene a public hearing to take testimony on how the insurance industry uses credit scores, what …
Reforms to the Texas insurance regulatory system put in place by Senate Bill 14 in 2003 are under attack by a coalition of state lawmakers who have filed bills to, among other things, return the rate setting process for personal …
Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …
Insurance trade groups have come out swinging against Michigan Gov. Jennifer Granholm’s call for auto insurers to freeze rates until lawmakers can enact some of the reforms in a report by the state’s insurance consumer advocate, Melvin Hollowell. The trade …
The Florida Office of Insurance Regulation will hold a public hearing this morning in Tallahassee about the use of credit scoring, credit history and credit models by insurers in the underwriting and setting of rates. The OIR said that five …
The North Dakota Senate last week killed legislation (SB 2330) that would have banned insurers from using credit information in underwriting and rating. On Feb. 2, the Senate Industry, Business and Labor Committee voted do not pass on SB 2330 …
