Instant Insights / The Business of Insurance

What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are updated regularly, will help insurance professionals maintain a competitive edge.


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“While this legislation is well intentioned, it would upend risk-based insurance, outlaw factors that actually provide discounts for many policyholders, and create potential availability problems that do not now exist,” Nat Wienecke, SVP of federal government relations at the APCIA, said in a statement. (Photo: Shutterstock) “Preventing insurers from using factors that are predictive of risk of loss would result in less accurate pricing with higher risk drivers paying less and lower risk drivers paying more for insurance,” Nat Wienecke, SVP of federal government relations at the APCIA, said in a statement. (Photo: Shutterstock)

In recent years, much controversy has surrounded the practice of using non-driving factors in determining car insurance rates. This week, the issue was front and center at a hearing of the House Financial Service’s Subcommittee on Housing, Community Development and Insurance.

At the hearing, H.R. 1756, the Preventing Credit Score Discrimination in Auto Insurance Act, was a central topic of conversation. The bill aims to prohibit auto insurers from using credit reports, credit scores, and other consumer information when calculating insurance premiums.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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