Posts Tagged: credit scoring
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Jan 27, 2012
No CommentsConfidential Treatment: Documents in the Product Filing Process
Many states provide insurance companies the option to request that certain documentation be considered proprietary and/or confidential and therefore, not subject to public disclosure requests. Other types of documents, by their very nature, are considered confidential by a state upon filing without any request being made by the insurer. The filing of credit scoring model...
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Nov 28, 2011
1 CommentCredit Scoring Revisited?
The subject of hot debate for years, credit scoring is estimated to be used by over 90% of property and casualty insurers writing personal lines coverage today. Credit scoring use has been a controversial practice due to competing points of view – some consumer advocates argue that it is discriminatory while industry generally views it as...
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Aug 15, 2011
No CommentsPolicy Termination: A Look at 2011 Legislative Updates
As state legislatures adjourned this spring, compliance professionals were busy analyzing and implementing regulatory changes. Once again, laws that regulate property and casualty policy termination practices have been a focal point in 2011. As always, legislative changes are the catalyst for review and possible compliance updates to underwriting guidelines, policy provisions, policyholder notices, and policy...
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Sep 13, 2010
No Comments2010: Challenging Regulatory Changes
The Regulatory Changes web seminars, available as recordings, are intended to provide information on some key legislative and regulatory changes which have been enacted or adopted during the first several months of 2010. We recognize the challenges insurers face in meeting the demands of state requirements and offer this opportunity to review some of the key updates so far this...
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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...
