Discrimination in Insurance Underwriting Guidelines - Investopedia
Feb 2, 2024 · While insurance companies are prohibited from discriminating based on factors like race, guidelines use particular facts about people to measure risk and set rates. This means …
The Insurance Industry Confronts Its Own Racism - Investopedia
Feb 2, 2024 · Discrimination based on race has a long history in the insurance industry, where practices such as race-based premiums and redlining of predominately minority …
Section 1557 of the Patient Protection and Affordable Care Act
4 days ago · Clarifies the application of Section 1557 nondiscrimination requirements to health insurance issuers that receive federal financial assistance. Aligns regulatory requirements with …
Identifying and targeting unfair discrimination in insurance
Mar 6, 2023 · Insurers and actuaries able to identify and target unfair discrimination not only enable their organizations to keep pace with shifting consumer and regulatory expectations but …
discrimination debate in insurance. Specifically, the paper will compare definitions offered by different organizations and touch on how they could affect actuarial work.
Nov 11, 2020 · “In insurance,” the NAIC explained to the Supreme Court, “discrimination is not necessarily a negative term so much as a descriptive one.” Courts recognize that “the …
Race & Insurance
Oct 18, 2023 · The insurance industry and regulatory community also placed a new focus on issues like diversity and inclusion in the workforce, unfair discrimination in underwriting, and …
Unfair discrimination occurs when an insurer uses a socially unacceptable risk classification factor (like race or national origin) to differentiate on either the price of or access to an insurance …
State Health Equity Initiatives and Racism in Insurance Industry ...
Sep 18, 2023 · Discrimination impeded the ability of Black Americans to obtain insurance, including health insurance. When plans were offered to Black households, insurers employed …
Insurers attempt to segregate insureds into separate risk pools based on their differences in risk profiles, first, so that they can charge different premiums to the different groups based on their …