If the use of consumer credit records for underwriting is banned, insurers will need to develop new evaluation techniques to help them assess risks, actuaries were told at a recent industry conference.
“In the past five-to-10 years a number of developments have really put credit under attack,” noted Roosevelt C. Mosley, a principal with Pinnacle Actuarial Resources Inc, speaking at the Oct. 4 Casualty Actuarial Society conference in Boston.
The CAS reported his and others' remarks at the meeting.
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