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News Archive: Insurance Scoring Methods
NAMIC’s state trade association advocacy partner, the Iowa Insurance Institute, reports that the Iowa House passed SF 2075, which adds what is often called the “extraordinary life circumstances” provision to the state statute that regulates the use of credit-based insurance scoring. The House did not amend the bill, which means it should soon be on its way to the governor’s desk. (Posted: 3/16/2010)
NAMIC Updates Its Credit-based Insurance Scoring Policy Briefing
The NAMIC State and Policy Affairs Department has updated its popular credit-based insurance scoring policy briefing, “Credit-Based Insurance Scoring: Separating Facts From Fallacies.” (Posted: 2/23/2010)
Florida: OIR Withdraws Rules Banning Insurance Scoring, NAF Accident Surcharges
The Florida Insurance Council, NAMIC’s state advocacy partner, reported Friday that the Office of Insurance Regulation filed notices of withdrawal of proposed rules that would prohibit credit-based insurance scoring and surcharging for not-at-fault or unproven automobile accidents. The rules had been challenged by NAMIC, FIC, and other industry partners. (Posted: 2/23/2010)
2010 FAC Issue Update - Credit-Based Insurance Scoring
There exists the continuing possibility of federal restrictions on the use of credit-based insurance scoring in property/casualty underwriting and rating. (Posted: 2/9/2010)
SB 1399, a credit-based insurance scoring ban bill, was introduced Feb. 1 in the Arizona Legislature. The bill has been assigned to the Senate Rules Committee and the Senate Committee on Commerce and Economic Development. (Posted: 2/9/2010)
Washington: One Credit-based Insurance Scoring Ban Bill Down, One to Go This Legislative Session
HB 2513 died Feb. 2 in the House Financial Institutions and Insurance Committee on a 4-6 vote. Unfortunately, SB 6252 passed as amended out of the Senate Labor, Commerce, & Customer Protection Committee along party lines. (Posted: 2/9/2010)
Iowa: Senate Passes Extraordinary Life Circumstances Amendment to Credit-based Insurance Scoring Law
NAMIC’s state trade association advocacy partner, the Iowa Insurance Institute, reports that the Iowa Senate unanimously passed SF 2075, which adds what is often called the “extraordinary life circumstances” provision to the state statute that regulates the use of credit-based insurance scoring. (Posted: 2/9/2010)
Legislation was introduced Jan. 19 to ban the use of credit-based insurance scoring for auto insurance. (Posted: 1/26/2010)
Washington: NAMIC Joins Industry in Testifying Against Credit-based Insurance Scoring Ban Bill
NAMIC, in conjunction with other members of the insurance industry and interested stakeholders, testified last Wednesday evening at the House Financial Institutions and Insurance Committee public hearing on HB 2513, which would ban the use of credit score, education, and income in insurance underwriting. The bill is supported by the Office of the Insurance Commissioner, and Commissioner Mike Kreidler has been extensively advocating for the bill at the Legislature and in the media. (Posted: 1/26/2010)
Washington: Update: House Schedules Hearing on Credit-based Insurance Scoring ‘Ban’ Bill
The Washington House Financial Institutions & Insurance Committee has scheduled a hearing for tomorrow at 6 p.m. on HB 2513, an Act relating to using credit history, education, and income for insurance purposes. (Posted: 1/19/2010)
Washington: Credit-based Insurance Scoring, Other Valuable Underwriting Information Under Attack (1/12/2010)
Florida: NAMIC’s Alldredge to Speak at Insurance Summit (1/12/2010)
Massachusetts: NAMIC Opposes Bills Prohibiting Use of Rating, Underwriting Factors (11/17/2009)
Washington: OIC Releases Bill Draft Attacking Risk-based Insurance Underwriting (10/6/2009)
New Hampshire: Details the Focus of Department Hearing on Credit Regulation Changes (10/6/2009)
Wisconsin: NAMIC Testifies at Insurance Department Hearing on Credit-based Insurance Scores (9/22/2009)
NAMIC Testifies at Wisconsin Insurance Department Hearing on Credit-based Insurance Scores (9/15/2009)
Ohio: Credit-based Insurance Scoring Bill on ‘Watch List’ (9/8/2009)
New Hampshire: Department Revises Credit Regulation Changes, Plans Work Session (9/8/2009)
Illinois: Governor Signs Credit-based Insurance Scoring Bill (8/25/2009)
New Hampshire: NAMIC Submits Comments to DOI on Changes Affecting Use of Credit-based Insurance Scores (7/28/2009)
New Hampshire: NAMIC Cites Concern With Proposed Changes to Credit-based Insurance Scoring Regulation (7/14/2009)
NCOIL Adopts ELC Amendment to Insurance Scoring Model; Defers All Other Issues (7/14/2009)
NAIC Seeks Direction on Insurance Scores (6/18/2009)
Michigan: Supreme Court Will Consider Credit-based Insurance Scoring (5/12/2009)
Anti-credit Scoring Legislation is Anti Consumer, NAMIC Tells New Jersey Senate Committee (5/7/2009)
NAIC Investigates Credit-based Insurance Scoring in Shadow of Capitol Hill (5/5/2009)
New Jersey: Bill to Temporarily Prohibit Insurers’ Use of Credit-based Insurance Scoring (5/5/2009)
Michigan: Industry Scores Win in Circuit Court on Credit-based Insurance Scoring (4/14/2009)
NAMIC Meets With Florida Insurance Consumer Advocate on Credit-based Insurance Scoring (4/14/2009)
Rhode Island: Bill Limiting Credit Use Not Expected to Move (4/7/2009)
Minnesota: Senate Votes to Reject Bill to Ban Credit-based Insurance Scoring (3/31/2009)
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