SAN DIEGO – The National Association of InsuranceCommissioners Executive Committee has voted to revisit thecontroversial issue of insurers' use of consumers' creditinformation to determine their rates.
At the NAIC's Spring Meeting here, the group approved permissionfor the Property-Casualty Committee and the Market Regulation andConsumer Affairs Committee to combine and take testimony on theissue of credit scoring.
An ongoing hot button issue that has previously been examined bythe NAIC, credit scoring is opposed by those who say it unfairlypenalizes lower income and minority groups and fails to factor inspecial circumstances, such as a major medical expense that impactsa credit record.
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