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PCI To Tell Congress Credit Scores Help Elderly Rates

The Property Casualty Insurers Association of America plans to fight House legislation to eliminate credit scoring as an underwriting criterion, by arguing that the measure would mean higher insurance

By Arthur D. Postal | Updated on March 20, 2008

The Property Casualty Insurers Association of America plans to fight House legislation to eliminate credit scoring as an underwriting criterion, by arguing that the measure would mean higher insurance premiums for the elderly.

PCI’s rationale is contained in a working paper obtained by National Underwriter. It is based on a study of credit scoring issued by the Federal Reserve Board last August. PCI’s lobbyists plan to use the study to persuade legislators to oppose the bill.

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