Property/casualty insuerrs are urging North Dakota lawmakers to defeat a bill that would preclude their use of credit scoring in calculating insurance premiums. The North Dakota Senate Industry, Business & Labor Committee was scheduled to consider the bill, SB 2330, …
The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during November include five license revocations and fines and restitution totaling $180,029. An order imposing disciplinary measures becomes final 20 days after the agent …
West California Passed Agent-Broker Law The most notable bill affecting California agents was AB 2956, which clarifies the duties of an insurance agent versus a broker. Prior to the new law, confusion existed within the industry, with consumers, brokers, agents, …
Idaho Department of Insurance Director Bill Deal is urging insurers to carefully review their use of credit related information in rating insurance policies. “In this difficult economy, the finances of many Idahoans are being affected through no fault of their …
Burnes Rules Out Permitting Insurers to Use Credit Scores; Goes Slow on Property Market Issues Massachusetts Insurance Commissioner Nonnie Burnes has presided over the biggest shakeup in the Massachusetts’ personal auto insurance market in generations. Over the last year, she’s …
As problems began unfolding at American International Group last month, Pennsylvania Insurance Commissioner Joel Ario was tapped to be the vice chairman of a special task force of the National Association of Insurance Commissioners to oversee possible sales of the …
Atlanat-based IVOX, a driver risk management firm, announced an alliance with Insurance Services Offices Inc., a leading source of information about risk, data, analytics and decision-support services. The alliance will help IVOX further its mission of assessing and managing risk …
Insurance industry parties today filed an appeal to the state Supreme Court in response to an August ruling by the Michigan Court of Appeals that would prohibit the use of credit-based insurance scoring. The August ruling would reverse a lower …
A study, released in London by Standard & Poor’s Risk Solutions, analyzes the 2007 year end financial returns of UK SME’s [small and medium enterprises]. It found that, “not surprisingly,” the sector with “the highest default risk in 2008 is …
The simple fact is that now insurance companies in Michigan no longer will be able to use customers’ credit scores to set home and auto insurance premiums — if the state Court of Appeals ruling stands. Just when insurers thought …
