For years politicians have let #AutoInsurance companies charge much more to drivers who have fair/poor credit scores, even if they have perfect driving records. Today @ConsumerFed details how much more safe drivers pay just b/c of their credit history. consumerfed.org/press_releas…
Doug Heller retweeted
PRESS RELEASE: Report Details Severe Credit Score Penalties in Auto Insurance
#CFA's new report reveals safe drivers with poor credit pay hundreds to thousands in higher premiums. That is not #fairautoinsurance.
@DougHeller
consumerfed.org/press_releas…
Doug Heller retweeted
Read #CFA's report on how insurance companies’ credit scoring and ZIP code rating push up premiums for safe drivers in #NewYork.
@DougHeller
consumerfed.org/reports/repo…
Doug Heller retweeted
Why does the insurance industry keep increasing #consumer premiums? Check out #CFA’s Research & Advocacy Associate Michael DeLong’s deep dive on the insurance industry’s #SocialInflation lie & its impact on consumers’ pockets!
@centerjd @DougHeller
consumerfed.org/unpacking-th…
New @consumerfed & @centerjd report shows insurers' rebranding of "lawsuits" as "social inflation" to justify rate hikes on biz, nonprofits, doctors & truckers is just same ruse/different name. Data show premium hikes are out of step with claim payments. consumerfed.org/press_releas…
Congrats & thanks to @nevadadoi / @NevadaAG for NV Supreme Ct victory upholding temporary ban on #insurance cos. using #credit scores to raise rates. #Nevadans: if your credit fell during covid, tell your insurer to remove the credit penalty @ConsumerFed
consumerfed.org/press_releas…
Glad to have joined @FosterCea @stillwellkate & Dr. Carolyn Kousky of @EnvDefenseFund for a fascinating discussion hosted by @CascadiaEQ about reimagining #earthquake #insurance & decreasing the protection gap. @ConsumerFed crew.org/earthquake-insuranc…
1) Dear #Insurance Commissioners @ #NAICFallMeeting2022: I hope you're discussing the important/disturbing research by @DeborahNArcher & @RaceNYU underlying this racial discrimination suit against @StateFarm.
@FlitterOnFraud @ConsumerFed @Insurance_Fraud
nytimes.com/2022/12/14/busin…
2) Their survey found that @StateFarm's "Black policyholders were 39% more likely to have to submit extra paperwork to justify their claims" and "white homeowners were almost a third more likely than Black homeowners to have their claim processed expeditiously."
With apologies to the great @bobbymcferrin, 2 weeks ago @Allstate told shareholders "Don't Worry" we've raised auto #insurance premiums 14% for drivers in 19 more states in Q3...& today they told investors "Be Happy" we're giving you ~a quarter $billion in dividends. @ConsumerFed
Important report from @centerjd on the dangers of big trucks, horrific crashes, weak gov't oversight, the odd alliance btwn truckers & the insurers that gouge 'em, "nuclear verdict" and social inflation myths & why juries decide what they do
@ConsumerFed
centerjd.org/content/study-b…
Doug Heller retweeted
“The attempt by at least 2 insurers to stop Attorney General Ferguson from investigating the relationship between the use of credit and drivers’ race or ethnicity suggests that these companies are concerned about what will be uncovered." - @DougHeller, CFA's Director of Insurance
What's with the anti-Cheers vibe @Progressive? They call the #insurance customers they care the least about Sams and Dianes. But where's the risk? She's always playing it safe and he hasn't had a drink in years! (oh, I see, it's not about the risk.)
A #Progressive insurance customer? You better hope that you’re considered a Robinson. Progressive’s second quarter report shows that they have a preference for taking care of high-value #consumers (Robinson's), while dismissing many others.
consumerfed.org/meet-the-rob…
Doug Heller retweeted
Press Release: Tips To Help Consumers Get Fair Insurance Treatment After Hurricane Ian
Recovery depends on insurance regulators & state + federal officials holding insurers to their obligations! #HurricaneIan #Florida #SouthCarolina
@DougHeller @UPHelp
consumerfed.org/press_releas…
How is it that #Ohio lets @Progressive punish safe drivers with a #WidowPenalty - higher premiums after a spouse dies? Gouging widows is cruel even for #insurance cos. @ConsumerFed wrote @OHInsurance Director French to demand action. @MikeDewine @AARP
consumerfed.org/wp-content/u…
As @blinfisherABJ explained in the @beaconjournal this weekend, in #Ohio, auto insurers can raise premiums on a good driver after their spouse passes away.This #WidowPenalty is not allowed in several other states and should be blocked in OH. @ConsumerFed beaconjournal.com/story/news…
So, your #homeinsurance might not cover all the catastrophe risks in your region (something you don't want to learn AFTER the storm). Great reporting by @tarasbernard to help guide folks, especially as #ClimateChange increases risks.
@ConsumerFed @UPHelp nytimes.com/2022/08/23/busin…
Great point @RealReformLA! The most predictable move by insurers to block accountability is promising that "tort reform" will lower rates. Pols fall for it (spurred by campaign $$) but it never works. Consumers lose rights & rates still rise. @ConsumerFed lailluminator.com/2022/06/01…
Doug Heller retweeted
2/ #ProtectPolicyholders
New Report on Executive Compensation
Our allies at the @ConsumerFed have taken a hard look at insurance executive compensation. @DougHeller