All of the following are arguments in favor of using an applicant's credit record in personal lines underwriting EXCEPT
A) Most consumers have good credit records and benefit when credit history is used as a rating factor.
B) Use of credit data in underwriting and rating eliminates price discrimination against minority groups when they purchase insurance.
C) Underwriting and rating may be more consistent if applicants' credit histories are considered.
D) There is high correlation between an applicant's credit record and future claims experience.
Question 2
The regulation of insurers in areas that affect consumers, which include claims handling, underwriting, complaints, advertising, sales practices, and other trade practices is called
A) solvency surveillance.
B) market conduct regulation.
C) combined ratio analysis.
D) market share regulation.
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Prove the following arguments using the two-column format.