Group sues to stop Washington ban on using credit scores for insurance rates April 7, 2021 at 3:58 pm
A group is hoping to stop a statewide ban on using credit cards to determine insurance rates. (Pexels)
An insurance industry group is suing to stop a statewide ban on using consumer credit scores to help determine auto, home, and renter insurance rates.
State Insurance Commissioner Mike Kreidler recently passed an emergency order prohibiting the practice, which he says unfairly boosts rates for minorities and the poor.
The American Property Casualty Insurance Association filed a lawsuit, Wednesday, in Thurston County Superior Court that seeks to keep the order from taking effect on new and renewed policies on June 20, 2021.
Sunburn â The morning read of whatâs hot in Florida politics â 4.8.21
Good Thursday morning.
Tweet, tweet:
Multiple sources close to @HalseyBeshears, fmr Sec y of @FloridaDBPR under @GovRonDeSantis , tell @Fla Pol that he is third Florida Republican embroiled in the @MattGaetz & Joel Greenberg scandal.
Sources say he recently received a target letter from federal investigators. pic.twitter.com/IFpyHTJhFC
As the vaccine rollout continues and state case numbers hover near pandemic-era lows, businesses are reporting improved confidence theyâll be able to keep their doors open.
Nearly seven in 10 Florida small businesses now believe theyâll be able to stay open for at least the next six months, according to Facebookâs latest â
Iowa raises auto salvage title threshold to 70% of vehicle value Thursday, April 8, 2021 4:12 PM Iowa auto body shops, insurers and policyholders will have more leeway on what constitutes a totaled vehicle for purposes of insurance settlements, industry journal Repairer Driven News reported. Gov. Kim Reynolds on Friday signed into law Senate File 230, which raises the threshold for what constitutes a wrecked or salvaged vehicle. Previously, the law required the designation of a vehicle as wrecked or salvage when the cost of repair exceeded 50% of the fair market value of the vehicle. The new law raises that threshold to vehicles needing repairs of more than 70% of fair market value. Scott Weiser, a lobbyist for the Iowa Collision Repair Association, said that auto body shops were losing money because of repairable vehicles being totaled. The Iowa Insurance Institute and American Property Casualty Insurance Association supported the bill alongside
Calif. court opinion goes in favor of A.B. 5 applying to trucking
While a larger trucking case against California’s A.B. 5 law s application to motor carriers and owner-operators is still unfolding in a federal district court, a second state court in California has ruled that federal law does not preempt a law that would effectively outlaw the leased owner-operator model in the state.
Trucking has been operating under an exemption from A.B. 5 since the beginning of 2020, when the law went into effect. A lawsuit by the California Trucking Associations against A.B. 5 is still in progress, and an injunction is in place until that lawsuit plays out.
Insurer Group Sues to Stop Washington Insurance Commissioner’s Credit Scoring Ban April 7, 2021
The American Property Casualty Insurance Association is suing to halt emergency regulations recently filed by Washington Insurance Commissioner Mike Kreidler to ban the use of credit-based insurance scores in the rating and underwriting of insurance.
A petition for declaratory and injunctive relief was filed today in Superior Court in Thurston County, which asks the court to declare the commissioner’s action invalid and enjoin its enforcement.
The action seeks to prevent Kreidler from acting beyond the scope of his authority and requires him to comply with existing statutes governing the use of credit-based insurance scores by the insurance industry, among other statutes, according to the APCIA.