The demise of a bill in the Maryland General Assembly banning insurers from using the credit history of an applicant to rate risk is being met with approval from a national property-casualty group that says such legislation hurts consumers.

The controversial practice of using credit scoring to determine pricing of insurance actually saves insurers money, thus lowering the cost of premiums for the consumer, a professor of insurance suggests.

Maryland Insurance Commissioner Ralph S. Tyler said he is not losing any sleep about the state finishing in the bottom 10 in a new report card on insurance regulations in …  Read →