LANSING — State Sen. Erika Geiss (D-Taylor), Democratic Vice Chair of the Insurance & Banking Committee, has released the following statement regarding Gov. Gretchen Whitmer’s directive that the state Department of Insurance and Financial Services examine both the use of non-driving factors to set rates, as well as the pricing of coordinated policies:
“I applaud the governor for taking meaningful action on auto insurance reform — something our residents have long needed. Women and the people of Metro Detroit know all too well what the use of non-driving factors has done for rates to this point, and it’s time this practice be put to a true litmus test. The best laws are the ones with equal application across the board, and I commend the governor for trying to ensure just that.”
Currently, insurers may — with some limitations — use non-driving factors such as educational level, home ownership, education level, credit scores, and even gender or marital status to determine insurance premiums.
The full executive directive can be found here.
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