Posts Tagged: consumer protection
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Jul 14, 2010
No CommentsCredit Scoring Use: Extraordinary Life Circumstances Exception Creates Added Consumer Protection
Although credit scoring use remains controversial in some jurisdictions, an estimated 90% of property and casualty personal lines insurers now use credit score information in underwriting and/or rating. Credit score information can include information on individual applicants or policyholders obtained by insurers from consumer credit reports, accident reports and prior losses, and subsequently used for...
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Jan 28, 2010
No CommentsConsumer Protection: Interest in Seniors Continues
The states’ consumer protection interest continues to be focused on certain certifications or professional designations used by individuals when selling life insurance and annuities to seniors. While some states had provisions in place prior to the 2008 adoption by the NAIC of Model 278, the Model Regulation on the Use of Senior-Specific Certifications and Professional...
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Jan 12, 2010
No CommentsNew Year and New Proposals
The start of 2010 brings with it newly introduced legislation in many states. Continuing the consumer protection focus, Kentucky has seen some claims-related bills filed. House Bill 146 and Senate Bill 16 both seek to establish anti-steering provisions with regard to repair facilities. Currently, Kentucky’s anti-steering laws prohibit insurers from requiring claimants to have automobile...
