Insurance Credit Scoring: An Ethical Issue

Pennsylvania law does not prohibit an insurance company fromusing credit as an underwriting tool so long as it is done within the first 60 days of writing a policy. I believe this is a highly unethical practice in which insurance companies are being given free rule to take advantage of low-income families, single mothers, disabled, minorities and others. Under the law, an insurance company is granted a 60 day window from the inception of a policy to determine whether or not the policy fits into the company's guidelines. In your letter, you stated credit scoring in part of the rating structure and presumable must be approved by the Insurance Department. Also, Federal law under the Fair Credit Reporting Act allows credit information to be used for underwriting financial and insurance transactions.

Motor Vehicle Accident Insurance Claim Guide

For example, when your salary is paid for by another insurance coverage you have or by taking sick leave and/or some other similar type of arrangement. In certain instances, it may be possible to have your medical bills paid and yet avoid any repayment by tapping into your health insurance coverage, or some other plan you may have. All the information necessary for you to deal with and handle the above issues are spelled out within the contents of AUTO ACCIDENT PERSONAL INJURY INSURANCE CLAIM (How To Evaluate And Settle Your Loss) found on the internet at http. Dan Baldyga, does not offer a guarantee of any kind whatsoever, NOR to substitute for a lawyer, an insurance adjuster, or claims consultant, or the like. This figure has been negotiated between your damage repair person and the insurance adjuster.