The following article is part-two of a three-part commentary written by an insurance company executive which includes an industry critique and reflection on lifelong lessons learned. For part-one see IJ National July 7. Reinvention I learned later in my insurance …
The National Association of Mutual Insurance Companies has prepared and released a bulletin attacking efforts to apply the “disparate impact” legal standard to the use of credit-based insurance scores. The paper, which was also distributed by the American Insurance Association …
The following article is a commentary written by an insurance company executive which includes an industry critique and reflection on lifelong lessons learned. The three-part commentary will appear exclusively on Insurance Journal Online July 7-9, 2004. I have spent my …
The 2004 Tennessee General Assembly passed a number of insurance-related bills this year, including several on the use of credit scoring, workers’ compensation and tort reform measures. “We’re especially pleased with the workers’ compensation bill, which includes a number of …
Michigan Commissioner Linda Watters told the Senate Banking and Financial Institutions Committee that policyholders could see lower premiums if the state stops companies from using credit-based insurance scoring. She said that good credit discounts are unfair to the poor and …
Two consumer advocacy groups released a statement criticizing Michigan auto and homeowners insurers for “false statements” about insurance credit scoring and Gov. Jennifer Granholm’s proposed regulation to ban the practice. The insurers criticize Insurance Commissioner Watters for stating that the …
Michigan Gov. Jennifer Granholm’s proposal to ban the use of credit-based insurance scores for automobile and homeowners insurance is out of step with the 20 states that have adopted a variation of the model law developed by the National Conference …
The board that oversees the Massachusetts auto insurance high risk facility, Commonwealth Auto Reinsurers (CAR), voted 11-2 in favor of final rules to convert the plan to an assigned risk plan on June 29. The CAR governing board plans on …
Two national insurance company trade organizations have expressed legal concerns about the recently initiated multi-state study on credit-based insurance scores and have asked regulators in eight states to withdraw their data requests. The insurers’ concerns were detailed in a strongly-worded …
Indiana’s attorney general recently released an advisory opinion that directly butts heads with an earlier bulletin from the state’s insurance department on the meaning of “sole use” in Indiana’s new law regarding the use of credit scoring. The Indiana Department …
