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Election Day May Spell Sweeping Changes to The Insurance Industry

The jobs of more than half of state insurance commissioners around the country could be on the line tomorrow. The results of the 2006 midterm elections is definitely going to have an impact on the insurance industry. The emerging winners from as many as 30 different state elections for governor, insurance commissioner, congressional seats and attorney general spots may result in big changes of state insurance commissioners either because they are directly elected or because appointments are controlled or influenced by the governor. The greatest change may be in the Midwest states. It is safe to assume that not all … Continue reading →

One States Effort to Control Insurance Credit Scoring

Insurance companies have been using Insurance Credit Scores for several years now. This information has been used in a variety of ways to underwrite and rate insurance products offered to the public. As a result consumer groups and states have expressed concern as to how Insurance Credit Scores are being used and what protections consumers should expect. A number of states have passed a variety of laws and restrictions on Insurance companies and how they use the Insurance Credit Score information. It would be impossible for me to keep track of the changes in every state but, this is some … Continue reading →