Washington, June 24 -- Congresswoman Bonnie Watson Coleman issued the following press release:
Today, Congresswomen Bonnie Watson Coleman (NJ-12) and Rashida Tlaib (MI-12) sent a letter to Federal Insurance Office (FIO) Director Steven E. Seitz, requesting that the FIO look into the factors contributing to unaffordability in the auto insurance market, including the role of proxy factors and pricing discrimination in affecting premiums and coverage.
Auto insurance is one of the only insurance products required in nearly all states; yet transparency regarding the underwriting factors and consumer information that determines auto insurance premiums is lacking. That lack of transparency is devastating for marginalized communities, as unafford...