Insurance Advocates Urge Oregon Legislature to Support Bill to Ban the use of Socioeconomic Factors in Rate Setting
In a letter to the Oregon Legislature earlier this week, CFA insurance advocates urged members to support HB 2043, a bill that would ban the use of socioeconomic factors in auto insurance rate setting. The bill, sponsored by the Oregon Department of Consumer and Business Services, comes following recent CFA research on auto insurance premiums which found that a driver’s gender and credit score can dramatically change how much they are charged for auto insurance, even if they have maintained a pristine driving record.
Links to individual letters below:
