NAIC Public Hearing on Risk Classification Data Call, Credit-Based Insurance Scores Scheduled for September 30
Sep 23, 2010
A National Association of Insurance Commissioners (“NAIC”) public hearing on a proposed risk classification data call and other risk classification tools for personal auto insurance has been scheduled for September 30, 2010 in Kansas City, Missouri. To access the proposed data call and accompanying instructions, click here. To view the meeting notice, click here.
The purpose of the proposed Risk Classification Data Call would be to:
- Evaluate how insurers use credit-based insurance scores;
- Determine how current economic conditions have affected policyholder premiums related to credit-based insurance scores;
- Evaluate the role of credit-based insurance scoring vendors; and
- Evaluate the industry’s use of innovative risk classifications and risk evaluation tools and what impact these risk classifications would have on consumer rates.
According to the NAIC notice, this call would be issued to insurers as a data call. All responses would be submitted to the issuing state and kept confidential to the extent allowed by respective state law. Aggregate data may be made public.
Should you have any comments or questions, please contact Colodny Fass.
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