OLYMPIA, Wash. – Insurance companies selling auto, home and renters insurance in Washington could offer more competitive rates today by reassessing the risk factors they consider to set premiums. To date, most have failed to do so.
Insurance Commissioner Mike Kreidler ordered 128 property and casualty insurers in March to end the discriminatory practice of using credit scoring to determine how much you pay for coverage. They had until June 20 to remove credit histories as a rating factor, the date his emergency rule took effect.
Insurers could reorder a…