Credit Scoring News

Perhaps a Large Cash Prize is the Answer

When battling Legislative dragons every two years, those of us who work for the Texas property and casualty insurance industry are dramatically reminded how poorly our business is understood. Furthermore, our antagonists don’t really believe we operate independently in a …

Nev. Scoring Bill Enacted, Rate Reform Fails

Use of credit-based insurance scores, regulatory reform, medical liability and auto repair issues were among the most significant bills considered during the 2003 regular legislative session in Nevada, which concluded earlier this month. Nevada joined other states this year in …

Gov. Perry Signs Reform Legislation

Texas Gov. Rick Perry signed Senate Bill 14, the recently passed insurance reform legislation, during a signing ceremony at a construction site in Temple. According to a statement released by the governor’s office, his signature on the bill ushers in …

NAII Says N.Y. Assembly Bill to Ban Credit Scoring Won’t Help Consumers

The National Association of Independent Insurers has issued a bulletin indicating that a New York Assembly bill that would prohibit insurers from using credit scores in underwriting would do a greater disservice to consumers by eliminating a useful underwriting tool. …

Garamendi Responds to Trade Assoc.’s Lawsuit on Homeowners Advisory Notice

California Insurance Commissioner John Garamendi released the following statement in response to the lawsuit filed June 4 by the Personal Insurance Federation of California; the Association of California Insurance Companies and the American Insurance Association. “I will do everything possible …

Sparks Fly During Nevada’s Legislative Session

The fireworks, bright lights and loud noises emanating from Nevada is not the Las Vegas strip, it is actually the final weeks of legislative debate in the state capital in Carson City. Once again the Nevada legislature has debated thousands …

Texas Regulation Bill Passes in Last Hours of Session

In the waning hours of the 78th Legislature Texas lawmakers passed Senate Bill 14, the long-awaited insurance reform bill, giving additional power to the Insurance Commissioner to control residential and automobile insurance rates and holding out the promise of lower …

Credit Scoring, Nonrenewal Bills Highlight of Ill. Legislative Session

Legislation dealing with commercial lines nonrenewals, fee increases and credit scoring were among the top insurance-related bills that passed the 2003 Illinois General Assembly, which adjourned May 31. “The legislature dealt with a number of insurance issues this session, and …

Alliance Calls New DE Credit Scoring Regulation a ‘Fair Compromise’

The Alliance of American Insurers has issued an announcement indicating that a final Delaware Department of Insurance regulation governing property/casualty insurers’ use of credit-based insurance scores that will go into effect June 1 is “fair to both consumers and insurers …

PIP, Workers’ Comp Reform Pass Florida Special Session

The National Association of Independent Insurers reported that the special session of the Florida Legislature has ended with the passage of both personal injury protection (PIP) reform and workers’ compensation reform bills. “Although the PIP reform bill includes some decent …