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Colorado bill prohibits insurer use of 'discriminatory' data


Colorado bill prohibits insurer use of discriminatory data
PATTY NIEBERG, Associated Press/Report for America
May 3, 2021
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DENVER (AP) Colorado lawmakers are considering a bill that would prohibit insurance companies from using consumer information collected from outside sources such as social media and court and home ownership records to determine insurance rates.
The measure would bar insurers from using third-party site data to charge higher insurance premiums based on race, national or ethnic origin, religion, gender, sexual orientation or disability. Such data also includes a consumer s credit score, purchasing habits and level of education.
The bill also applies to discriminatory data in algorithms and predictive modeling, systems used by insurance companies to assess risk-based characteristics that affect a customer s proposed rate. ....

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LIBRA Insurance Partners Protects Policyholders and Producers in Voya/Resolution Life Transaction in Colorado


LIBRA Insurance Partners Protects Policyholders and Producers in Voya/Resolution Life Transaction in Colorado
LIBRA s Contribution to the Regulatory Process Resulted in the Addition of Key Mandates Required for the Transaction to Close
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LINTHICUM HEIGHTS, Md., Jan. 27, 2021 /PRNewswire/ LIBRA Insurance Partners, one of the nation s largest insurance marketing organizations, successfully petitioned the Colorado Department of Insurance to add restrictions and mandates to the Voya/Resolution Life transaction prior to approving the close of the transaction. These conditions were proposed in order to protect the rights of the policyholders of Voya products whose insurance policies would be included in the transaction, as well as the insurance agents who represented the Voya policies to their clients. ....

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