read Read

e-mail E-mailprint Print

News Archive: Insurance Scoring Methods


Market Regulation Committee to Review Credit Scoring Studies

During the meeting of the Market Regulation & Consumer Affairs (D) Committee on the last day of the June NAIC meeting, Commissioner John Morrison (MT) raised the issue of credit based insurance scores, the previous NAIC working group assigned to look at related issues and the fact that the NAIC had never adopted a model law related to credit scoring even though NCOIL had done so. (Posted: 9/19/2008)


Michigan: Court of Appeals Overturns Circuit Court Ruling on Insurance Scoring

In an opinion dated Aug. 21, the Michigan Court of Appeals struck down, on a 2-1 decision, a lower court’s ruling that “declared certain administrative rules [restricting the use of credit scoring] promulgated by the Commissioner illegal, invalid and unenforceable.” (Posted: 8/26/2008)


NAMIC Rallies to the Cause on Credit Scoring

With criticism of a valuable insurance underwriting tool becoming louder, NAMIC and its members are ramping up efforts to educate members of Congress. (Posted: 7/29/2008)


NCOIL Committee Reaffirms Support of Insurance Scoring

The National Conference of Insurance Legislators' Property-Casualty Committee heard updates on rate modernization and other issues during NCOIL's summer meeting in New York last week. Following a presentation by Nat Shapo on the FTC study and testimony by NAMIC on the success of state credit-based insurance scoring laws, the committee unanimously approved a resolution reaffirming support for insurance scoring and expressing opposition to federal legislation aimed at banning the tool. NAMIC drafted the resolution and secured sponsorship. (Posted: 7/15/2008)


NAMIC Files Comments to Protest FTC’s Proposed Data Collection Method for Homeowners Insurance Scoring Study

A Federal Trade Commission proposal to force insurers to submit data for an insurance scoring study related to homeowners’ insurance prompted us to file dual comments last week. (Posted: 6/24/2008)


Credit-based Insurance Scoring Benefits Consumers, NAMIC Tells Congress

NAMIC submitted testimony last week to the House Financial Services’ Subcommittee on Oversight and Investigations hearing on insurance companies’ use of credit-based insurance scoring in underwriting and rating policies. (Posted: 5/27/2008)

Credit-based Insurance Scoring Benefits Consumers, NAMIC Tells Congress

Consumers benefit when insurance companies use credit-based insurance scoring in underwriting and rating policies. That’s the message NAMIC has delivered to a congressional panel examining insurers’ use of credit-based insurance scoring. (Posted: 5/21/2008)


House Panel to Consider Credit Scoring Tomorrow, as Dangerous New Legislation is Introduced

Members of the House Financial Services’ Subcommittee on Oversight and Investigations will have two proposals to refer to tomorrow when they hear testimony on restricting or banning insurers’ use of credit-based insurance scoring information. (Posted: 5/20/2008)


NAMIC’s Federal Affairs Committee to Tackle Credit, Regulatory Challenges

Members of NAMIC’s Federal Affairs Committee have a full plate of issues to discuss during their meeting tomorrow. (Posted: 5/20/2008)


Congress to Consider Credit-based Insurance Scoring

On the heels of the recent introduction of legislation to scale back insurers’ use of credit-based insurance scoring information comes word that a congressional subcommittee will examine the issue. (Posted: 5/6/2008)


California: Credit Bill Would Interfere With Insurers’ Efforts to Protect Policyholders’ Confidential Personal Information (4/22/2008)


Illinois: House Committee Hears Testimony on Credit-based Insurance Scoring (4/22/2008)


New Jersey: Commissioner Questioned on Insurance Scoring During Budget Session (4/15/2008)


Michigan: House Panel Approves Insurance Scoring Ban (4/15/2008)


Credit-based Insurance Scoring Attacked by Consumer Representatives (4/8/2008)

NAMIC: Michigan Proposal Will Increase, Not Decrease Insurance Rates (3/20/2008)


Connecticut: NAMIC-opposed Bill to Ban Use of Credit in Auto Pricing Dies with Passage of Procedural Deadline (3/18/2008)

NAMIC-opposed Insurance Scoring Ban Bill Dies in Connecticut Committee (3/17/2008)

NAMIC Warns of Potentially Disastrous Effects of Federal Anti-credit Scoring Legislation (3/14/2008)


Arizona: Insurance Scoring Bill Fails to Pass Bill Cut-off Deadline, Dies in Committee (3/11/2008)


Tennessee: NAMIC’s Reynolds Speaks on Status of Credit-Based Insurance Scoring (3/11/2008)


Wyoming: Legislative Attempts to Prevent Insurers from Providing Consumers with Risk-Based Insurance Rates Died Before Legislative Cutoff Date (3/4/2008)


Connecticut: NAMIC Testifies Against Bill That Would Prohibit Use of Credit in Auto Rating (3/4/2008)


NAMIC: Credit Freezes Without Exemptions Could Lead to Higher Rates and Increased Identity Theft for Consumers (3/4/2008)

NAMIC Testifies Against Connecticut Anti-Insurance Scoring Measure (2/28/2008)


Florida: Use of Credit-Based Insurance Scoring Again Debated (2/26/2008)


Connecticut: Insurance Committee to Consider Bill to Ban Use of Credit for Auto (2/26/2008)

Credit Freezes Without Exemptions Could Lead to Higher Rates and Increased Identity Theft for Consumers, NAMIC Tells FTC (2/26/2008)


Nebraska: Bill to Ban Insurance Scoring Heard in Committee (2/19/2008)


Florida: Senate Committee Discusses Public Records Exemption for Credit Scoring Methodologies; House Committee Considers Reducing Cat Fund Exposure (2/12/2008)


Washington: Credit-based Insurance Scoring Ban Bill Dies in Legislature (2/12/2008)


Colorado: House Votes Against Credit-based Insurance Scoring Ban (2/5/2008)

Insurers Applaud Legislators’ Restraint in Considering Proposed Ban on Use of Credit Information (2/5/2008)


Wisconsin: Senate Approves Credit-based Insuring Scoring Legislation (2/5/2008)

NAMIC: Wisconsin Senate’s Approval of Credit-based Insuring Scoring Legislation Could Jeopardize Low Rates (1/31/2008)

powered by Google

Receive State-specific Updates

Receive e-mail updates from NAMIC Online regarding the states of most interest to you. You will only receive an e-mail when new stories are posted, and only for those states you select. No new news...no e-mail.

RSS

Archives 

Publications