Insurers are expressing concern that a recent federal appeals court decision will impose significant new burdens on carriers that use credit information to help determine premiums.
The U.S. Court of Appeals for the Ninth Circuit ruled last week that insurers will have to provide "adverse action" notices to consumers if their credit information disqualifies them for the lowest premiums when a policy is first initiated.
These notices, which are mandated under federal laws governing credit use, were designed to inform the consumer why a decision against them was made and what information it was based on.
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