Rhode Island’s Insurance Division issued a bulletin on Sept. 18 advising that any personal lines property/casualty insurer that uses price optimization to rate policies in Rhode Island should submit revised filings that remove such factors within 60 days after the …
The District of Columbia’s Department of Insurance, Securities and Banking (DISB) this week issued a bulletin notifying property/casualty insurers doing business in the District that price optimization is discriminatory and that it violates the District’s anti-discrimination insurance laws. The Department’s …
Maine Insurance Superintendent Eric A. Cioppa stated in a bulletin published Monday that in Maine, personal lines property/casualty insurers that use price optimization should submit revised rate filings removing such factors within 60 days after the date of the bulletin. …
Pennsylvania Insurance Commissioner Teresa Miller has issued an official notice warning the state’s insurers that they are prohibited from using the price optimization techniques in property/casualty insurance rates. “The practice is not legal in Pennsylvania and the Insurance Department will …
Vermont regulators issued a bulletin last week addressing the issue of “price optimization” in personal lines ratemaking. The Vermont Department of Financial Regulation (DFR) noted in the bulletin that some property/casualty insurers have been relying upon the practice of price …
When Jonathan G. Stein became unhappy with his long-time car insurance carrier earlier this year, the 41-year-old lawyer from Elk Grove, California switched to a new company. How was he rewarded for his disloyalty after nine years? With savings of …
A memorandum released last week by Florida Insurance Commissioner Kevin McCarty warning insurers in the state not to use price optimization in rating has gotten cheers from a consumer advocate group and jeers from an insurance industry trade association that …
The New York Department of Financial Services (DFS) on March 18 sent out letters to hundreds of property/casualty insurers operating in the state, seeking information concerning price optimization. New York joins a growing number of states around the country that …
California Insurance Commissioner Dave Jones on Wednesday issued a notice to property/casualty insurers doing business in California advising them that so-called “price optimization” in rate making is unfairly discriminatory and violates the law. Price optimization is the practice of setting …
Lieutenant Governor and Department of Insurance Director Mary Taylor has warned Ohio insurers against the use of price optimization that can result in unfair discrimination. Taylor recently issued Bulletin 2015-01, dated Jan. 29, to Ohio insurance companies noting that the …
