Court: Insurance rates can reflect credit scores
Recent Cases
Insurance companies can use a person's credit report to determine rates, the Michigan Supreme Court said Thursday in declaring that state regulators exceeded their authority when they banned the practice as discriminatory.
The decision ends a legal battle between insurance companies and Gov. Jennifer Granholm's administration that has reached three courts since 2005.
The industry says people with strong credit reports make fewer claims and deserve lower rates than people with weak credit reports. The Supreme Court, in a 4-3 ruling, said Michigan law allows companies to offer people with good credit lower rates.
"It is difficult to see how offering discounts to some insureds on the basis of good insurance scores is inconsistent with the (law's) general purpose of availability and affordability of insurance for all consumers," Justice Maura Corrigan wrote in the majority opinion.
Related listings
-
Kan. doc to appeal conviction in painkiller case
Recent Cases 06/26/2010Defense attorneys plan to seek the release of a Kansas doctor and his wife while they appeal their convictions on charges they conspired to profit from illegally prescribing painkillers to patients who later died.Jurors found Dr. Stephen Schneider an...
-
NY appeals court tosses ruling on RNC surveillance
Recent Cases 06/14/2010A court overstepped its authority by trying to force the New York Police Department to release of hundreds of pages of documents about its infiltration of protest groups before the 2004 Republican National Convention, an appeals court found Wednesday...
-
Phoenix bankruptcy filings fall in May
Recent Cases 06/09/2010Bankruptcy filings in the Phoenix metropolitan area fell in May for the second straight month.However, officials say the 2,763 filings in the metro area represent a 35 percent increase compared with May 2009.Experts say soft housing prices, a bleak e...
Chicago Business Fraud Attorney
Business Fraud can take many forms. In the broadest terms, a fraud occurs when someone intentionally deceives others for personal gain. Many times business fraud is harmful and recovery is necessary. Losing your personal or business’s assets can devastate your entire life. Contact Roth Law Groupto receive help on restoring your business to normalcy before you were victimized with fraud. Business fraud cases can involve multiple people and complicated schemes aimed at deceiving the public, auditors, investigators, or others. Whether you are dealing with corporate fraud or commercial fraud, we can step in and fight back to receive compensation that you deserve.
At Roth Law Group we are devoted to prosecuting and defending the legal rights of individuals and small businesses, as either plaintiff or defendant. Proving fraud can be extremely difficult. To have a successful business fraud case, one must prove that the defendant purposefully set out to defraud the victim. Fraud cases are being investigated more aggressively than ever. With increasing federal regulation and scrutiny of corporate practises, many individuals and businesses find themselves the subject of business fraud investigations.