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Is credit scoring really the best tool to establish the insurance-worthiness of potential customers?

Is credit scoring really the best tool to establish the insurance-worthiness of potential customers?

FTC’s 2007 examination of credit scoring and the NCOIL regulations widely impacted the use of credit scoring models. Agents—for the most part—have come around to insurers’ use of credit scoring.

Credit scoring using completely race-neutral factors is permitted under Texas law even if it has an unintended impact on minorities, the state’s Supreme Court ruled late last week.

Credit scoring using completely race-neutral factors is permitted under Texas law even if it has an unintended impact on minorities, the state’s Supreme Court ruled late last week.

Republican takeover of the House will likely put an end to efforts to curb use of credit scoring as an underwriting tool by property and casualty insurers, according to an industry official.

San Francisco-based CreditKarma reports that although consumer credit card debt is down 3 percent since January, credit scores are worse.

Insurers and trade groups objected to a planned National Association of Insurance Commissioners' (NAIC) data call on credit-based insurance scoring during a recent NAIC committee hearing.