You’re In Good Hands......(well, maybe they sneezed and didn’t wash them and, uh, don’t mind the open sores)

You’re In Good Hands......(well, maybe they sneezed and didn’t wash them and, uh, don’t mind the open sores)

News Flash! Insurance companies are suing the state of Michigan! Their beef? The State won’t let them use personal credit scores to determine insurance rates.

Why not? Well, it goes like this......low personal credit scores are generally held by lower socio-economic people. Lower socio-economic folks tend to have poorer health, worse cars, live in higher risk neighborhoods, and generally inhabit that nether-world of insurance risk where the insurance companies just can’t come out and say, “we don’t want low-income, scummy people to insure! We only want to screw people that can pay well.”

The insurance companies respond with some innocuous blithering that credit report scores tend to reveal those who will pay their bills on time. Aside from being overly simplified and simply not true, it is the best they can do in hiding their more nefarious desire to cut out low income people from affordable insurance coverage.

But mark my word. The state Court of Appeals is owned by the Insurance Companies. The state Supreme Court is owned by the insurance companies. My underwriters and my actuaries tell me that the insurance companies are on their way to victory against our little state. In fact, the insurance companies are kind of miffed that their lackeys in the legislature would let something like this get nixed by the very government they helped to install. Ingrates.

Well, I’ll be waiting to see the line in Vegas on the outcome of this one and when the line hits, my underwriters say I’m betting the farm on the Insurance Companies.

Blawgerman