NAII will be proposed changes in the Utah Insurance Scoring Rule
The National Association of Independent Insurers (NAII) insists that the Utah Department of Insurance of their projects for the revision of the regulation in the field of insurance credit scoring for the use of this instrument, if risk to factors other than credit information in D’considered.
NAII opinion on the service and testified recently that the proposed rule goes beyond the status last year. The new Utah law stipulates that allows credit insurers in underwriting initial training and then give a discount to private automobile transportation, politics, if combined with other factors. However, the proposed regulation stipulates that insurers are not allowed, credit information as the main reason for decline or refuse a new private car insurance.
“Our main concern regarding the proposed regulation is that it is not so much the clear intent of the legislature regarding the use of credit information,” said Ann Weber, adviser to NAII . “With the term” primary “creates a multitude of problems, it is difficult to define, and it indicates that it is a balancing of factors. In addition, the legislature began to limit and decided against the use of this concept. ”
As in previous draft rule NAII expressed its concern about the communication to consumers. NAII asked the Division to remove a section addressing an insurer, if the credit commitments used. The commitments beyond, “said Fair Credit Reporting Act and the requirements of the new law.
NAII also requested that the date of enforcement of the rule be modified, one year after the issuance of the rule for insurers sufficient time to properly set up internal systems to comply with the new rule.
In addition to this rule is the department, a proposal for a ban has been Scoring assurance of the session. “The industry has pointed out that the rules being developed for the law adopted last year, there was no need for legislation of this meeting,” said Weber. The bill (HP 216) do not receive support within the committee and was presented. Utah is scheduled appropriate legislative session, March 5, 2003.
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