Insurer Credit Scoring Debate Heats Up
The controversy over insurer use of credit scores in determining rates for customers has flared anew with a report examining the impact of that process on low-income and minority-population sectors.
The latest to weigh in on the issue is the Maryland Insurance Administration, which critiqued a controversial Missouri study finding that the poor and minorities were impacted unfairly by credit scoring. Two weeks ago, Missouris governor called for a credit scoring ban, citing his departments report. Insurers called that report flawed.
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