Insurance companies using credit-based insurance scores to underwrite and rate insurance coverage in Florida should reportedly be aware that the Florida Office of Insurance Regulation (OIR) will be taking a tough stance on the use of credit in the state. …
Louise “BeBe” Canter, the new president of the Independent Insurance Agents & Brokers of America (IIABA), announced she is prepared to address the changing reality of independent agencies and brokerage firms and meet new industry challenges through such dynamic Big …
Six months ago it was uncertain whether a consensus model credit-based insurance scoring bill devised by the National Conference of Insurance Legislators (NCOIL) with the cooperation of producers, carriers and consumer groups would carry the day in state legislatures around …
The Alliance of American Insurers expressed disappointment with the Fifth Circuit Court of Appeals’ decision in DeHoyos v. Allstate Insurance Company, which was filed in Texas. The case stems from the Texas-based plaintiffs’ allegations that Allstate uses credit-based insurance scoring …
The Mississippi Department of Insurance announced it has scheduled a Sept. 9 public hearing on a proposed regulation on the use of credit scoring in personal lines insurance underwriting. Adoption of Mississippi Department of Insurance Regulation 2003-01, “Use of Credit …
Six months ago Insurance Journal presciently asked whether a consensus model credit-insurance scoring bill devised by the National Conference of Insurance Legislators (NCOIL) with the cooperation of producers, carriers and consumer groups would carry the day in state legislatures around …
According to Texas Attorney General Greg Abbott, the state reached a settlement with Farmers Insurance Group that requires the company to refund an estimated $2.4 million to about 13,000 Texas motorists who may have paid more for vehicle repairs than …
NCOIL President Kathleen Keenan responded this week to a release from the Consumer Federation of America (CFA) that ran on the Insurance Journal Web site Aug. 13. Below is the text from Keenan. NCOIL legislators are the best representatives of …
The Consumer Federation of America (CFA) released a study which reportedly found that at least 40 percent of the leadership of the National Conference of Insurance Legislators (NCOIL), an organization that offers model bills and resolutions on how to regulate …
New Jersey’s Department of Banking and Insurance has published a useful guide to “what every insurance agent needs to know about credit-based insurance scores” on its Web site: www.state.nj.us/dobi/index.shtml. The guide states: “Insurance agents have the complex job of being …
