by mega » Sat Jan 26, 2008 03:41 am
For those who did not know most Insurance Companies use your credit score/record in some manner to help arrive at your premium. This may be about to change!
Excerpt: "Insurance providers would be prohibited from setting premiums based on credit scores under legislation proposed by Rep. Dorothy Butcher, D-Pueblo.
The House Business Affairs and Labor Committee on Thursday approved House Bill 1143 by a vote of 6 to 5.
But an association representing the insurance industry vowed on Friday to fight the legislation on the House floor."
Butcher said the current policy is unfair because there''s no correlation between credit and risks.
Excerpt: "Insurance providers would be prohibited from setting premiums based on credit scores under legislation proposed by Rep. Dorothy Butcher, D-Pueblo.
The House Business Affairs and Labor Committee on Thursday approved House Bill 1143 by a vote of 6 to 5.
But an association representing the insurance industry vowed on Friday to fight the legislation on the House floor."
Butcher said the current policy is unfair because there''s no correlation between credit and risks.
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