Connecticut has joined the growing number of states that have banned or restricted the practice of “price optimization” in insurance pricing. Connecticut Insurance Commissioner Katharine L. Wade announced that the state’s Insurance Department has officially warned property/casualty insurers against using …
Delaware has issued a bulletin prohibiting the use of price optimization in insurance pricing. The Delaware Department of Insurance said in its Bulletin No. 78 on Oct. 1 that “while price optimization has no universally accepted definition, it generally refers …
Rhode Island’s Insurance Division issued a bulletin on Sept. 18 advising that any personal lines property/casualty insurer that uses price optimization to rate policies in Rhode Island should submit revised filings that remove such factors within 60 days after the …
The District of Columbia’s Department of Insurance, Securities and Banking (DISB) this week issued a bulletin notifying property/casualty insurers doing business in the District that price optimization is discriminatory and that it violates the District’s anti-discrimination insurance laws. The Department’s …
Maine Insurance Superintendent Eric A. Cioppa stated in a bulletin published Monday that in Maine, personal lines property/casualty insurers that use price optimization should submit revised rate filings removing such factors within 60 days after the date of the bulletin. …
