The National Conference of Insurance Legislators (NCOIL) is urging the National Association of Insurance Commissioners (NAIC) to get behind its credit-based insurance scoring model law and drop an idea to conduct a "questionable data call."
Regulators' interest in insurers' use of credit-based insurance scores produced lively reaction from insurance association representatives and a consumer advocate during a committee meeting on property and casualty insurance issues.
Regulators' interest in insurers' use of credit-based insurance scores produced lively reaction from insurance association representatives and a consumer advocate during a committee meeting on property and casualty insurance issues.
Insurer use of consumer credit scoring for underwriting and pricing personal lines coverage was back under the glare of a congressional spotlight this month, with industry officials fending off attacks on the accuracy and fairness of such rating tools.
A bill opposed by insurers that would have banned credit-based insurance scoring in Wisconsin never made it out of committee before the end of the legislative session.