SPRINGFIELD, Ill. (KHQA) — New legislation aimed to prevent insurance companies from outside data affecting their auto rates.
Secretary of State Alexi Giannoulias has drafted legislation hoping to end discriminatory auto insurance rates across the state with House Bill 4611.
The purpose of auto insurance is to protect motorists while they drive; therefore, an individual’s driving record should serve as the primary factor that’s analyzed when setting rates, Giannoulias said.
Under current state law, insurance companies can use third-party site data from sources like social media to charge higher insurance premiums based on race, ethnic origin, religion, gender, sexual orientation, age, marital status, or disability.
According to the Secretary of State, companies have based rates on who an individual follows and likes on social media as well as poor credit.
According to a consumer reports analysis, an Illinois driver with a clean driving record but poor credit will pay $862 more annually for car insurance than a driver with excellent credit and a conviction of driving while intoxicated compared to the national average of $421, said Giannoulias
House Bill 4611 would ensure the data used by insurance companies is accurate and used properly, holding them accountable and preventing systemic biases.
The bill also prohibits any insurance company from canceling or refusing to renew the policy of a licensed driver when they reach the age of 65.
"auto" - Google News
February 28, 2024 at 05:44AM
https://ift.tt/siPzlUL
Alexi Giannoulias drafts legislation to challenge discrimination in auto insurance rates - khqa.com
"auto" - Google News
https://ift.tt/vGD9Kya
https://ift.tt/cVkIluq
Bagikan Berita Ini
0 Response to "Alexi Giannoulias drafts legislation to challenge discrimination in auto insurance rates - khqa.com"
Post a Comment