Florida's insurance commissioner said he has subpoenaed five national insurers to supply records and testify tomorrow about what they are doing to reduce the impact of credit scoring on consumers who qualify as low income or as a racial minority.
The action by Commissioner Kevin McCarty is the latest in a six-year battle in the state between insurers and the top regulator over insurers' use of consumer credit history to set their insurance premiums.
Companies called to appear at the state capital in Tallahassee are Allstate, GEICO, Nationwide, Progressive and State Farm.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
