Groups hit NAIC's inaction on credit-based insurance scoring

11/16/2009 | PropertyCasualty360

The Consumer Federation of America and other advocacy groups rebuked the National Association of Insurance Commissioners for failing to act promptly on credit-based insurance scoring, which adversely affects recession-hit consumers. But PCI's Jeffrey Brewer said the recession makes consumers handle their finances wisely. "Because they are making greater strides to pay off their debts, the major consumer reporting agencies ... have determined that the average credit scores have actually remained steady or improved in certain states," he said.

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