The American Property Casualty Insurance coverage Affiliation submitted feedback in opposition to stakeholder draft laws which can make Washington Commissioner Mike Kreidler’s emergency laws banning using credit-based insurance coverage scores everlasting for 3 years.
APCIA is once more calling on the Workplace of the Insurance coverage Commissioner to let the non permanent ban expire on the finish of the 120 days.
“Commissioner Kreidler is dashing by means of a everlasting regulatory course of identical to he rushed by means of his emergency laws. The worst half is the sticker shock decrease threat Washington policyholders are experiencing once they get their renewal notices,” Alex Hageli, APCIA’s director of non-public auto, digital points, specialty strains and counsel. “This hasty course of just isn’t even offering time to include the feedback submitted final week. This isn’t an efficient approach to make public coverage.”
APCIA’s remark letter requires insurers to be permitted to reinstate their beforehand authorised charges and proceed to make the most of credit score historical past, which is permitted by statute, of their underwriting and ranking practices, as Washington legislation requires charges to be associated to the danger of loss.
Kreidler’s workplace has been reached out to for remark.
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The American Property Casualty Insurance coverage Affiliation submitted feedback in opposition to stakeholder draft laws which can make Washington Commissioner Mike Kreidler’s emergency laws banning using credit-based insurance coverage scores everlasting for 3 years.
APCIA is once more calling on the Workplace of the Insurance coverage Commissioner to let the non permanent ban expire on the finish of the 120 days.
“Commissioner Kreidler is dashing by means of a everlasting regulatory course of identical to he rushed by means of his emergency laws. The worst half is the sticker shock decrease threat Washington policyholders are experiencing once they get their renewal notices,” Alex Hageli, APCIA’s director of non-public auto, digital points, specialty strains and counsel. “This hasty course of just isn’t even offering time to include the feedback submitted final week. This isn’t an efficient approach to make public coverage.”
APCIA’s remark letter requires insurers to be permitted to reinstate their beforehand authorised charges and proceed to make the most of credit score historical past, which is permitted by statute, of their underwriting and ranking practices, as Washington legislation requires charges to be associated to the danger of loss.
Kreidler’s workplace has been reached out to for remark.
Associated:
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Desirous about Carriers?
Get computerized alerts for this subject.
