The Michigan Supreme Court on Oct. 7 heard opening arguments in a closely watched case that may decide the fate of insurers’ use of credit history in setting rates for personal lines policies in that state. In 2005, under then-Commissioner …
Attorneys on both sides of the issue argued before the Michigan Supreme Court on Oct. 7 as to whether insurance companies should be allowed to use credit history in setting auto and home premium rates. The practice was outlawed by …
The Michigan Supreme Court on Oct. 7 heard the opening arguments in a closely watched case that may decide the fate of insurers’ use of credit history in setting premium rates for personal lines policies in that state. In 2005, …
The Michigan Supreme Court is set to consider whether the state’s Office of Financial and Insurance Regulation (OFIR) can administer rules banning the use of insurance credit scoring in rate setting. The hearing begins Oct. 7, the OFIR said in …
Never Say Never “I never rule out the option of a special session… The idea that somehow or another these agencies are going to go away, that’s not going to happen.” —Texas Gov. Rick Perry. After the Texas Legislature adjourned …
While the Texas Legislature managed to pass a long sought bill, HB4409, that addresses funding for the state’s insurer of last resort for wind and hail along the Texas coast, lawmakers failed to decide on other legislation impacting the insurance …
The use of credit scores by insurance companies in rating methodologies continues to be unresolved in several Midwest states, as evidenced by ongoing court battles and legislative actions aimed at tweaking existing laws. Michigan’s battle against credit scoring in insurance …
The Michigan Supreme Court has agreed to hear a case involving a ban on the use of credit scoring by insurance companies. In 2005, the Office of Financial and Insurance Regulation’s (OFIR) promulgated rules banning the use of insurance credit …
The New Jersey Senate’s Commerce Committee is in the midst of vetting two key bills that would have significant impact on the Garden State’s insurance industry. One bill would create a create a financial backstop for homeowners in the event …
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. …
