The Florida Office of Insurance Regulation will propose legislation soon to restrict the use of education and occupation as rating factors for personal lines insurance customers, officials said.
Last week the OIR put out a report finding that use of education and occupation to rate customers unintentionally harms minorities and low-income individuals.
As a result, the OIR said it will propos a measure that will permit the use of such factors in underwriting and rating only if the carriers can prove it does not disproportionately impact consumers based on race and income.
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