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NY Regs Bar Asking About Occupation, Education

The New York Department of Financial Services unveiled regulations that prevent auto insurance companies from asking policyholders about education and occupation when setting policy premiums...
December 20, 2017

The New York Department of Financial Services (DFS) unveiled regulations that prevent auto insurance companies from asking policyholders about education and occupation when setting policy premiums. DFS Superintendent Maria Vullo issued the regulations after a multiyear investigation to deter discriminatory auto insurance rates. Vullo said drivers without college degrees or high-paying jobs should not be penalized with higher auto insurance rates. The investigation by the department found that some insurance companies use an individual's education level to establish a tier placement “without a clear demonstration of the required relationship between these factors and driving ability.”

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