News of the Week 11-30-17

proadAccountId-334270 • November 30, 2017

How Your Credit Affects Your Insurance

Why do insurance companies use credit information in rating personal insurance?

Insurance companies often use credit information because, according to them, it is a predictor of the probability of future losses. Its use is an objective way to assess and price potential risk and enables them to more accurately price policies and equitably distribute insurance costs among their policyholders.

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