As insurers increasingly rely on consumer credit histories and credit-related scores during the underwriting and rating process, the Independent Insurance Agents and Brokers of America (IIABA) is urging companies to proactively adopt and implement fair-minded and appropriate business practices regarding …
Commissioner Frank M. Fitzgerald of the Michigan Office of Financial and Insurance Services will discuss his findings on insurance scoring at a national workshop on urban insurance to be held Oct. 23-24 at the Hotel Monaco in Chicago. The conference, …
Insurance Journal senior writer Dave Thomas recently interviewed Republican Insurance Commissioner candidate Gary Mendoza, the former Commissioner of Corporations about the upcoming election and the current issues facing the industry. Below are some excerpts that highlight Mendoza’s views on these …
The Texas homeowners insurance market—like many around the nation—is experiencing rising premiums, controversy over mold claims and debate over the use of credit scoring. Texans purchase 3.9 million homeowners insurance policies each year that generate almost $3 billion in premiums. …
Credit-based insurance scores are accurate, reliable and effective predictors of future loss, and they are gaining some acceptance among insurance agents – but regulators need more convincing. That was the gist of a panel discussion on “Credit Scoring, What’s the …
The National Association of Independent Insurers (NAII) has questioned the approach regulators are taking in formulating direction for the states on the use of insurance credit scoring. The Credit Scoring Working Group met recently during the National Association of Insurance …
Following a meeting between representatives from the Kansas Insurance Department and Farmers Insurance Co., Commissioner Kathleen Sebelius announced that the company had no plans to cease writing homeowners insurance in the State. Concerns arose following the company’s announcement that it …
As rumors and speculation swirled about whether Farmers Insurance is planning to completely withdraw from the Texas homeowners market, the Texas Department of Insurance (TDI) proposed a resolution to its dispute with Farmers over the company’s business practices. Noting it …
Robert Bailey characterizes himself as an “unemployed senior citizen” with some notions about leadership and effective management. The retired CEO of State Auto Insurance Cos., Columbus, Ohio, passed along some homespun and deceptively simple basics of leadership during NAMIC’s General …
The insurance industry took a few hits at a recent Senate committee hearing on the use of consumer credit histories in rating and underwriting insurance policies. In addition to criticisms from consumer groups, the industry faced a number of hard …
