The National Association of Mutual Insurance Companies (NAMIC), homebased in Indianapolis, said that Wisconsin’s ranking as one of the lowest-paying states for auto and homeowners’ insurance will be threatened with the passage of this bill.

“Supporters of this legislation have clearly ignored the multitude of studies showing that credit-based insurance scoring is an objective and actuarially valid tool that enables insurers to better predict the likelihood of future claims and the cost of those claims,” said Robert Detlefsen, NAMIC’s vice president of public policy. “The practice is a major factor in holding down insurance rates for the great majority of Wisconsinites who have good credit histories.”

(news from insurancejournal.com)

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