MAIA Drops Support for Initiative to Ban Credit Scoring
The Massachusetts Association of Insurance Agents (MAIA) has agreed to a request from state lawmakers to withdraw the ballot initiative it filed in August to prohibit the use of credit scoring, education, and occupational data in auto insurance. From now on, the group (which is not affiliated with PIA) will focus on its ongoing legislative effort. Until recently, MAIA and its 1,400 member agencies were working on gathering signatures from voters to put the question on the 2012 state ballot. MAIA President Frank Mancini said continuing on the ballot initiative campaign would have been long and costly. The group’s effort and resources could be better utilized following only the legislative track. Massachusetts is already one of a few states with strict policies on the use of credit scores and other socioeconomic factors. PIA does not oppose our carriers using insurance scoring as one underwriting tool.
Read more on the push to ban credit scoring: MAIA Drops Ballot Push for Credit Ban (Insurance Journal 10/27/11)