American Property Casualty Insurance Association: The most effective way to reduce insurance costs is to reduce accidents through safety measures.

“Discrimination in the insurance industry based on race is illegal in all states, and 56 states do not condone the insurance industry or the insurance industry itself. continuous and review of admissions and approvals Any violation is quickly resolved using the multitude of enforcement tools available to the state insurance authorities.

“Insurance companies do not collect or use information on race and are prohibited by law in all states from purchasing insurance based on race. We interfere with your information, including the information that right that ‘there is no basis for it (classification), nothing at all, unless you are Black and I am white.’

“The basis of insurance is the transfer of risk from the policy owner to the insurer in exchange for a premium that is fair and accurate to reflect the value of the risk being transferred. All historical loss records, including all claims used by insurers, are reviewed by our authorities and must be verified and accurately verified. future risk. on the other hand, even if they have the same car, it needs to be a strong basis for the difference that has nothing to do with the race of the owner of the insurance.

“The insurance industry has supported many of the priorities and efforts of this Administration Congress to reduce the causes of social inequality in communities across America. We look forward to continuing this work with President Biden and the Congress to identify factors that increase costs for communities that cannot afford them and seek comprehensive solutions that get to the root of these challenges and support shared prosperity for all Americans.”

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Original text here: https://www.apci.org/media/news-releases/release/74373/

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