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You are here: Home / Legislature / Bill blocks use of credit debt for setting rates

Bill blocks use of credit debt for setting rates

December 14, 2007 By WRN Contributor

There's a move in the Legislature to keep insurance companies from using a new practice to raise rates for motorists. The move comes after several companies have started using credit reports to set premiums or even deny coverage. State Representative Terese Berceau (D-Madison) says it's discriminatory and needs to stop.

Berceau says it's simply a move to increase profits. The Madison Democrat has introduced legislation to prohibit the practice.

Berceau says you can be a great driver with no tickets, but still see your rates go up because of something totally unrelated, such as being poor.

AUDIO: John Colbert reports (MP3 :35)

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