NAIC Backs Off On Credit Scoring Study

State regulatorsnever comfortable with the use of credit scoring to underwrite insurancewere determined to initiate a multistate study to get to the bottom of the controversy over whether the risk assessment tool did more harm than good, much to the chagrin of carriers.

However, the industry launched a counterattack, threatening to sue if the National Association of Insurance Commissioners insisted on going forward, contending that the regulators were acting beyond their legal authority with the data call prompted by the eight-state probe.

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