A bill to ban credit-based insurance scoring in underwriting private passenger automobile insurance was signed into law in Massachusetts.
Gov. Deval Patrick signed the bill making the practice unlawful–the latest action in what has been a contentious issue between the insurance industry and consumer groups.
The state banned insurance-based scoring and other socioeconomic factors several years ago as it looked to implement a "managed competition" auto-insurance market under former Insurance Commissioner Nonnie Burnes, replacing the existing system at the time where the state set rates.
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