| Description |
1 online resource |
| Contents |
CREDIT-BASED INSURANCE SCORES:IMPACTS ON CONSUMERS OFAUTOMOBILE INSURANCE; CONTENTS; PREFACE; I. EXECUTIVE SUMMARY; II. INTRODUCTION; III. DEVELOPMENT AND USE OFCREDIT-BASED INSURANCE SCORES; A. BACKGROUND AND HISTORICAL EXPERIENCE; B. DEVELOPMENT OF CREDIT-BASED INSURANCE SCORES; C. USE OF CREDIT-BASED INSURANCE SCORES; D. STATE RESTRICTIONS ON SCORES; IV. THE RELATIONSHIP BETWEENCREDIT HISTORY AND RISK; A. CORRELATION BETWEEN CREDIT HISTORY AND RISK; 1. Prior Research; 2. Commission Research; a. FTC Database; B. POTENTIAL CAUSAL LINK BETWEEN SCORES AND RISK |
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V. EFFECT OF CREDIT-BASED INSURANCESCORES ON PRICE AND AVAILABILITYA. CREDIT-BASED INSURANCE SCORES ANDCROSS-SUBSIDIZATION; 1. Possible Impact on Car Ownership; 2. Possible Impact on Uninsured Driving; 3. Adverse Selection; B. OTHER POSSIBLE EFFECTS OFCREDIT-BASED INSURANCE SCORES; C. EFFECTS ON RESIDUAL MARKETSFOR AUTOMOBILE INSURANCE; VI. EFFECTS OF SCORES ON PROTECTEDCLASSES OF CONSUMERS; A. Credit-Based Insurance Scores and Racial, Ethnic, and Income Groups; 1. Difference in Scores Across Groups; 2. Possible Reasons for Differences in Scores Across Groups |
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3. Impact of Differences in Scores on Premiums Paida. Effect on those for whom Scores Were Available; b. Effect on Those for Whom Scores Were Not Available; B. SCORES AS A PROXY FOR RACE AND ETHNICITY; 1. Do Scores Act Solely as a Proxy for Race, Ethnicity, or Income?; 2. Differences in Average Risk by Race, Ethnicity, and Income; 3. Controlling for Race, Ethnicity, and Income to Test for a Proxy Effect; a. Existence of a Proxy Effect; b. Magnitude of a Proxy Effect; VII. ALTERNATIVE SCORING MODELS; A. THE FTC BASELINE MODEL; B. ALTERNATIVE SCORING MODELS; 1. "Race Neutral" Scoring Models |
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2. Model Discounting Variables with Large Differencesby Race and EthnicityVIII. CONCLUSION; APPENDIX A. TEXT OF SECTION 215 OF THE FACT ACT; SEC. 215. STUDY OF EFFECTS OF CREDIT SCORES AND CREDITBASEDINSURANCE SCORES ON AVAILABILITYAND AFFORDABILITY OF FINANCIAL PRODUCTS; APPENDIX B. REQUESTS FOR PUBLIC COMMENT; FEDERAL TRADE COMMISSION; SUMMARY; DATES; ADDRESSES; FOR FURTHER INFORMATION CONTACT; SUPPLEMENTARY INFORMATION; I. Background; II. Request for Comments; FEDERAL TRADE COMMISSION; SUMMARY; DATES; ADDRESSES; FOR FURTHER INFORMATION CONTACT; SUPPLEMENTARY INFORMATION; I. Background |
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II. Request for CommentsA. Credit Scores and Credit; B. Credit-Based Insurance Scores and Property and Casualty Insurance; APPENDIX C. THE AUTOMOBILE POLICYDATABASE; C.1. THE EPIC DATABASE; C.2. THE FTC DATABASE; C.2. 1. Additional Information Obtained for the Full Sample; Core Policy Data and ChoicePoint Credit Scores; Geographic Location Information and Census Data; Choice Point Credit History Variables; CLUE Data; Hispanic Surname Match; Vehicle Characteristics; C.2.2. Additional Information Obtained for a Sub-Sample of 400,000; FICO Scores |
| Bibliography |
Includes bibliographical references (pages 127-146) and index |
| Notes |
Description based on online resource; title from PDF title page (Site, viewed 01/29/2021) |
| Subject |
Consumer credit -- United States
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Credit scoring systems -- United States
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Discrimination in insurance -- United States
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Automobile insurance -- United States
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BUSINESS & ECONOMICS -- Insurance -- Automobile.
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Automobile insurance
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Consumer credit
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Credit scoring systems
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Discrimination in insurance
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United States
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| Form |
Electronic book
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| Author |
Tarlington, Martin H., editor
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| LC no. |
2020688943 |
| ISBN |
9781617282133 |
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1617282138 |
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