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Insurers Put Back On The Hot Seat In House Probe Of Credit Scoring

Insurer use of consumer credit scoring for underwriting and pricing personal lines coverage was back under the glare of a congressional spotlight this month, with industry officials fending off attacks on the accuracy and fairness of such rating tools.

By Arthur D. Postal | Updated on May 23, 2010

Washington

Insurer use of consumer credit scoring for underwriting and pricing personal lines coverage was back under the glare of a congressional spotlight this month, with industry officials fending off attacks on the accuracy and fairness of such rating tools.

One official testifying on behalf of the industry defended the use of credit scoring as an appropriate tool in helping set premiums for personal lines–one which encourages carriers to write more coverage.

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