Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner Ken Ross said he has disapproved rate filings for seven insurers …
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. They are also warning insurers that they could lose business and consumer confidence …
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. …
$1 Billion The effects of the widespread peanut butter recall could cost rural America’s peanut producers $1 billion in lost production and sales, according to testimony at a House subcommittee hearing. That could be just the beginning, the head of …
Keeping Homes Afloat “PCI applauds Congress for acting to keep the National Flood Insurance Program in place. Allowing the program to expire would have very negative consequences for policyholders and also for the nation’s economy. Most home buyers use federally …
State Farm Fire and Casualty Co. Nevada Insurance Commissioner Scott J. Kipper has approved a rate change for homeowners insurance premiums as filed by State Farm Fire and Casualty Co. The rate change will become effective on April 1, 2009, …
Congress passed a measure extending the National Flood Insurance Program through Sept. 30, 2009, under the omnibus appropriations bill. The NFIP extension was set to expire at 11:59 p.m. on March 6, but Congress passed a continuing resolution to extend …
The commercial lines insurance market showed more signs of price stabilization in the last quarter of 2008. Commercial insurance prices saw just a slight decline of 3 percent during the fourth quarter of 2008 compared to a year ago — …
The story of the salmonella-tainted peanut products distributed by Peanut Corp. of America (PCA) is one of the highest-profile food recall cases in recent memory, and one that holds interesting side stories for the insurance industry. One of the most …
The new AIU will start out with $45 billion in total revenues — enough to be a Fortune 54 company all by itself. State insurance regulators, like Texas Insurance Commissioner Mike Geeslin and Louisiana’s Commissioner of Insurance Jim Donelon, have …
