TALLAHASSEE, Fla., April 5 /PRNewswire/ -- The Florida Office of Insurance Regulation (Office) today issued a report analyzing the insurance industry's use of occupation and education for the underwriting and rating of auto insurance policies. "Let me be perfectly clear," states Commissioner Kevin McCarty, "this practice is legal under current Florida law. In 2003, the Florida Legislature passed Section 626.9741 severely limiting the use of credit scoring in insurance underwriting after this practice was also shown to disproportionately impact minorities and low-income individuals.....
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Car Insurance News: Report Released on Use of Occupation and Education As Factors in Determining Rates and Underwriting...Get an auto insurance quote!