CFA Urges NAIC and Life Insurance Companies to Make Reasonable Underwriting Rules for Those Who Had COVID
Consumer Federation of America sent a letter to the National Association of Insurance Commissioners, urging them to adopt a model rule for life insurance underwriters who might delay or deny coverage for people who have or had COVID-19. CFA additionally sent the letter to major life insurance companies asking them to voluntarily make COVID underwriting rules public and reasonable. Some life insurers in Europe are already taking these steps. State insurance regulators must issue a rule to protect consumers from arbitrary insurance practices. The rule should require that underwriting rules relating to COVID be made public before they are used and establish reasonable standards for what would trigger a delay or denial of coverage.
Our Subject Matter Experts
Related Articles
Redlined
The Persistence of Racial Inequality in the Cost of Homeowners Insurance
Black and Hispanic Homeowners Pay Hundreds of Dollars More Annually for Homeowners Insurance
“Racial Premium Gap” Adds Up to $15,000 in Additional Insurance Costs for Black Consumers and $28,500 for Hispanic Consumers Over a 30-Year Mortgage
Like a Bad Neighbor: State Farm’s Treatment of California Consumers After The Los Angeles Wildfires