Here's the article I talked about in an earlier thread. The next to last paragraph talks about future changes in regulations and how they want to stay ahead of the game. Charlie Allstate To Require Good Credit For Policy New Criteria To Go Into Effect Next Week Posted: 2:11 p.m. CDT May 30, 2002 SAN ANTONIO -- Allstate Insurance Company will stop writing new homeowners insurance policies for customers who are in the lowest three tiers of its five-point credit-scoring system. The new requirement goes into effect starting next week. The insurance company also will impose new requirements on existing customers who want to insure new houses. For example, existing customers with lower credit scores can get policies only if they have not filed claims in the past three years. Allstate, however, won't explain the criteria for its credit-scoring system -- not even to its agents. An Allstate spokesman told the Austin-American Statesman Thursday that the company is making the changes to stay ahead of potential new regulations, such as limits on the use of credit-scoring. Allstate is the third-largest home insurer in Texas.
GEORGE, That's right!! I bet those scoring models cost a bunch of money. Now, all the insurance companies in Texas will follow Allstate so that they can be grandfathered in to the law changes. So really, why make the law? All the insurance companies are will be exempt of the law before it becomes law. Charlie
