Insurance News

Posts Tagged ‘Scoring

A Senate bill in the Washington State Legislature to ban credit-based insurance scoring failed to come to a vote on the Senate floor before a deadline for moving legislation expired.

The demise of the Senate measure came weeks after a similar bill in the House died in committee.

Both bills were introduced at the request of State Insurance Commissioner Mike Kreidler.

Kenton Brine, assistant vice president, Northwest region Read the rest of this entry »

SAN FRANCISCO ?The National Association of Insurance Commissioners Property & Casualty Committee chairman said the panel will begin exploring how to gather data on insurers’ use of credit information to determine premiums.

The committee would like to collect information and develop a report on the controversial credit scoring issue by the third quarter of 2010, according to Illinois Insurance Director and Committee Chair Michael Read the rest of this entry »

MINNEAPOLIS —The nation’s insurance regulators have pressed insurance trade organizations for specifics on how use of credit in determining rates affects certain groups of people, and criticized the answers for not being specific enough.

Their comments came at a joint committee hearing during the National Association of Insurance Commissioners Summer Meeting, here.

NAIC’s Property and Casualty, and Market Regulation Read the rest of this entry »

INDIANAPOLIS (May 7, 2009) – A proposal to temporarily prohibit insurance companies from using credit-based insurance scoring to rate policies in New Jersey would lead to cross-subsidization and higher prices for most insurance consumers, the National Association of Mutual Insurance Companies (NAMIC) testified today. The state Senate’s Commerce Committee is considering S-2766, legislation that would suspend use of the underwriting tool until Read the rest of this entry »

Credit scoring supporters and detractors were making their arguments at a hearing today before the National Association of Insurance.

The session was held jointly by the NAIC Property-Casualty Committee and the Market Regulation and Consumer Affairs Committee in Crystal City, Va.

The NAIC Executive Committee authorized the two committees to go ahead with the hearing at the NAIC Spring Meeting last month in San Diego.

Florida Read the rest of this entry »