The Louisiana House Insurance Committee has passed legislation (H.B. 318) regarding a ban on the use of credit scoring information from 2005, which will negatively affect consumers and the overall insurance market in Louisiana, according to the American Insurance Association …
The decision by the three major consumer credit reporting agencies to create a more uniform credit scoring system is not expected to have a major impact on insurers’ use of credit in rating personal lines insurance policies, although some think …
A recent announcement by the three major consumer credit reporting agencies that they have created a new credit scoring system is unlikely to have a major effect on insurers’ current use of credit in underwriting and rating for homeowners and …
Call for stepped-up regulation of third-parties providing hurricane rating and credit scoring data Risk Management Solutions has defended its hurricane risk models in the face of consumer groups’ criticisms that the models are more political than they are scientific and …
The decision by the three major consumer credit reporting agencies to create a more uniform credit scoring system is not expected to have a major impact on insurers’ use of credit in rating personal lines insurance policies, although some think …
In the past, the agencies each used proprietary formulas to create their own scores, meaning that a lender dealing with a consumer’s application for a credit card or a mortgage might have had to reconcile three widely different scores. The …
The Delaware Senate has voted for compromise legislation that will allow insurers to continue to consider credit history information in the underwriting process. Insurance Commissioner Matthew Denn’s original bill had proposed banning insurers’ use of credit scoring in personal lines …
A U.S. consumer group has made claims that Geico Corp. uses rate-making methods that directly base eligibility and premiums solely upon the educational background and occupation of consumers. The Consumer Federation of America says that it uncovered a Geico underwriting …
A U.S. consumer group has made claims that Geico Corp. uses rate-making methods that directly base eligibility and premiums solely upon the educational background and occupation of consumers. The Consumer Federation of America says that it uncovered a Geico underwriting …
Insurers unlikely to alter credit scoring as agencies pursue uniformity The decision by the three major consumer credit reporting agencies to create a more uniform credit scoring system is not expected to have a major impact on insurers’ use of …
