Remember the debate over whether auto insurers should be allowed to use credit scores when they set their rates? The issue seemed to be resolved for good when the state’s insurance commissioner decided four years ago to expressly ban their use.
Well, the fight over credit scores is back. And this time, it could be up to the voters, and not a state bureaucrat, to decide the outcome.
The Massachusetts Association of Insurance Agents just filed a proposed ballot question that would take that ban on the use of socioeconomic factors – credit scores, education and occupation – and make it state law. The ban as it exists now is a regulation. But that’s not permanent or strong enough to satisfy the agents’ association.
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