The National Association of Insurance Commissioners (NAIC) has announced the formation of a special committee focused on Race and Insurance
“To Address Societal Systemic Bias and Inherent Racism in Insurance By Explicit Recognition of Disparate Impact as Unfair Discrimination in Insurance,” the Center For Economic Justice called on the NAIC to explicitly recognize the impact of discrimination against protected classes.
The CEJ called for the development of data collection and analysis by insurance regulators so that both regulators and the public can monitor outcomes for all consumers, to identify discriminatory outcomes and to trace any problems to the causes. Furthermore, the CEJ says that the states and NAIC should collect data on whether changes actually reduce discrimination in insurance.
If regulators fail to take action, state lawmakers should prohibit the use of factors that make auto insurance more expensive for Black drivers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aurora James Is Calling On the Retail Industry to Take the 15 Percent PledgeThe founder of Brother Vellies asked major store chains to take the 15 Percent Pledge, which is to devote a portion of their buy to Black-owned businesses.
Read more »
Shoplifting Is Less of a Bar to a Bank Job as Regulator Eases RulesThe Federal Deposit Insurance Corp. is easing the ability of banks to hire individuals convicted of minor crimes like shoplifting in a bid to expand the pool of potential employees in the financial industry
Read more »
He Was Harassed on a Run for Being Black. So His Neighbors Rallied“They turned something that was very painful and terrible—that almost took my love for running away—into something that brought my love for running back.'
Read more »
There are 100 days until Election Day. Here's what has defined the campaign and what to expectWith 100 days out from the general election, impeachment, the coronavirus and racism have dominated voters' minds. Here's what to expect next.
Read more »
How fisheries could sink a Brexit trade dealSome 80% of the fish landed in Britain is exported, mostly to the EU, while 70% of the fish consumed in Britain is imported, largely from the EU
Read more »