WASHINGTON, Aug. 4 -- Sen. Chris Van Hollen issued the following press release:
Today, U.S. Senator Chirs Van Hollen (D-Md.) joined Senator Elizabeth Warren (D-Mass.), Representative Ayanna Pressley (D-Mass.), and 17 other members of Congress in a set of letters to USAA, State Farm, Progressive, Liberty Mutual, Farmers, and Allstate requesting information on the usage of credit-based insurance scores in homeowners insurance underwriting and pricing.
In the letters, the lawmakers underscored concerns that insurance companies are unfairly jacking up rates based on customer credit history, "Property and casualty insurance products price the risk of loss due to damage to a property and its contents; and unlike debt, these products do not hin...