INDIANAPOLIS (Sept. 22, 2005)— Public policy issues will feature prominently at the 110th Annual Convention of the National Association of Mutual Insurance Companies (NAMIC), to be held at the J.W. Marriott Desert Ridge Resort and Spa, in Phoenix, Ariz., Oct. 2-5.
Panels on credit-based insurance scoring, how current trends in public policy impact the ability of property/casualty insurers to share risk and serve consumers, and Hurricane Katrina will be offered. There will also be numerous interview opportunities.
Credit-Based Insurance Scoring: Valid Risk-Assessment or Unfair Discrimination?
Few insurance industry practices are more contentious or controversial than insurers’ use of personal credit information to set prices for automobile and homeowners insurance policies. Yet credit-based “insurance scoring” is used today as an underwriting tool by most U.S. property-casualty insurers.
While most states currently permit insurers to use credit-based insurance scoring, albeit with significant restrictions, the future of the practice remains very much in doubt. Opponents of credit-based insurance scoring will redouble their efforts to ban the practice.
Since the link between credit scores and claim frequency is no longer a matter for serious debate, critics have increasingly argued that insurance scoring is unfair because it creates a “disparate impact” on racial minorities and the poor. This and other questions relating to the fairness of credit scoring will be discussed and debated by a distinguished group of panelists representing a variety of perspectives.
The forum will be moderated by veteran insurance journalist Steven Brostoff, publisher of Liability and Insurance Week. Panelists are: Birny Birnbaum, executive director of the Center for Economic Justice; Roger Clegg, general counsel of the Center for Equal Opportunity; and Robert Detlefsen, NAMIC’s director of public policy.
New Realities for Insurers: Regulation, Litigation and Free Markets
How do the current trends in public policy impact the ability of property/casualty insurers to share risk and serve consumers? NAMIC’s advocacy professionals and a panel of distinguished experts will engage in a lively and provocative discussion on the important issues of today and their significance for the future.
Panelists include North Dakota State Representative George Keiser, Chair, House Industry, Business & Labor Committee; and Dan Dunmoyer, President of the Personal Insurance Federation of California. NAMIC’s Senior Vice President – State and Regulatory Affairs Roger H. Schmelzer, J.D., moderates.
Hurricane Katrina panel
An expert panel will provide a unique perspective on Hurricane Katrina and its aftermath. Panelists will include: Brian Boyden, executive vice president of State Farm Mutual Automobile Insurance Company; William E. Bailey, Attorney/Special Counsel, Insurance Information Institute, and Director of the Hurricane Insurance Information Center (HIIC); Harvey Ryland, president & CEO of the Institute for Business and Home Safety and former deputy director of the Federal Emergency Management Agency (FEMA); and Roger Schmelzer, NAMIC’s senior vice president– state and regulatory affairs.
Each panelist will provide a unique perspective on the storms, their aftermath and what comes next.
There will also be interview opportunities. NAMIC member company executives, President Charles M. Chamness, State and Regulatory Affairs staff, and Federal Affairs staff are available for interviews. Please contact Media Relations Manager Rick Nelson to schedule interviews.
More information on the convention can be found at NAMIC Online.
For further information, contact
Rick Nelson, APR