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Illinois’ insurance pricing overhaul could erode underwriting accuracy, industry warns

Illinois’ insurance pricing overhaul could erode underwriting accuracy, industry warns


Supporters of the New York bill argue that credit-based pricing creates disparities that are not tied to driving behavior. Insurers in the state, meanwhile, have voiced similar concerns as their counterparts in Illinois, warning that restrictions on risk factors could lead to less accurate pricing and reduced competition in the market.



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