A recent study by the Washington state Office of the Insurance Commissioner (OIC) about insurer use of credit history adds some interesting new pro-competitive angles to the public policy debate, according to American Insurance Association (AIA) researchers who examined the …
A bill moving through the Nebraska legislature would prohibit insurers from denying, canceling or non-renewing an insurance policy or basing rates solely on the basis of credit information. Legislative Bill 487 would also require insurers to disclose information about the …
Kansas consumers should be told how credit scoring affects their insurance rates, Kansas Insurance Department Commissioner Sandy Praeger said in a written statement. Kansas now has “no specific statutory oversight of the use of credit-based insurance scores,” Praeger said, meaning …
California Insurance Commissioner John Garamendi testified before the Assembly Insurance Committee recently, discussing the impact of water damage and mold on consumers and the insurance industry. Below is the text of his testimony, in which he discusses his plans to …
The Texas Legislature took the first of many steps in resolving the state’s insurance crisis with the naming of members to the House Insurance Committee and with the Senate’s initiation of hearings on insurance bills. Insurance reform has been given …
Texas lawmakers introduced two bills in Texas legislature that aim to control rising insurance rates in the state. Texas State Senator Troy Fraser of Horseshoe Bay announced the filing of Senate Bill 310, requiring insurance companies doing business in Texas …
Insurance companies will be prohibited from using credit records to cancel or not renew current policyholders under rules adopted by the Oregon Insurance Division. The division developed the rules in response to consumer complaints about the growing use of credit-based …
American Insurance Association (AIA) vice president and assistant general counsel David Snyder responded to the release of effect of credit scoring on auto insurance underwriting and pricing, a study by the Washington Office of the Insurance Commissioner (OIC). “It will …
A measure placing additional restrictions on insurer use of credit scores that passed an Indiana House panel late last week could harm an already healthy property/casualty market, thereby harming consumers, according to the Alliance of American Insurers (AAI). The bill, …
The Credit Scoring Working Group of the National Association of Insurance Commissioners (NAIC) has adopted a list of options for states to consider when reviewing insurance credit scoring proposals as well as a consumer brochure that will be distributed to …
