Mich. High Court To Hear Credit-Based Rate Case

Law360, New York (May 12, 2009, 12:00 AM EDT) -- The Michigan Supreme Court has agreed to hear a case over whether insurance companies can use credit scores as a factor in determining premiums.

On Friday, the court granted an application for leave to appeal and scheduled oral argument for October. The dispute pits Michigan's Office of Financial and Insurance Regulation against a coalition of insurance companies.

“This is good news for Michigan consumers,” Ken Ross, commissioner of the OFIR, said Monday in a statement. “After four years of waiting, we are hopeful that the court...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.