Final
Credit Scoring and Health Insurance
HEALTH INSURANCE
Votes:
Action Taken:
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02:15 PM -- Presentation on Credit Scoring and Health Insurance
Rick Turano, Allstate Insurance, stated that no health insurers currently use credit information to underwrite or rate health insurance. He stated that credit scoring is used in rating and underwriting property insurance because credit scoring can very accurately predict future loses. He discussed Senate Bill 04-216, which is a model act that regulates the use of credit scoring. He responded to questions from the committee.