Washington — This week’s decision by the Federal Trade Commission (FTC) to order nine major insurance companies to provide data for a study of credit-based insurance scoring and homeowners insurance is unnecessary and a waste of money, according to the National Association of Mutual Insurance Companies (NAMIC).
“We are disappointed that the FTC decided to use the compulsory process and we don't expect the findings to be any different than the first study,” says Jimi Grande, NAMIC’s VP for federal and political affairs. “The evidence has shown time and again that the use of credit-based insurance scoring benefits the majority of insurance consumers through lower premiums.”
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access