View this article online: https://www.claimsjournal.com/news/southeast/2007/06/14/80814.htm
Property/ casualty insurers are contending that the Florida Office of Insurance Regulation is “off the mark” in developing rules implementing a law passed in 2003 addressing insurers’ use of credit information.
Since the Legislature passed the National Conference of Insurance Legislators’ model bill on credit-based insurance scores, the OIR has been mired in controversy attempting to adopt regulations implementing that law, according to the Property Casualty Insurers Association of America.
After years of administrative conflict and legal challenge, earlier this year a Florida Administrative Law Judge invalidated OIR’s first set of regulations, according to a PCI press release: “Now the OIR is issuing another rule proposal that goes far beyond the language of the statute,” the insurer association said.
“The OIR continues to push for regulations that are inconsistent with the intent of the law,” said William Stander, assistant vice president and regional manager for PCI. “This proposal, as with the last one, goes well beyond the requirement of the law by requiring insurers to document the affects of insurance scoring with demographic information not collected by, or available to, insurers. The OIR is seeking to prohibit insurers from using credit information by making it virtually impossible to comply with the rules. While Florida’s law is in the mainstream regarding how states regulate insurers’ use of credit information, the OIR interpretation is a blatant attempt to ignore the will of elected lawmakers and write its own law. We opposed the previous rule and will oppose this one just as strenuously.”
Source: Property Casualty Insurers Association of America