Illinois Secretary of State Alexi Giannoulias launched a statewide campaign July 29 aimed at restricting insurance companies from using socioeconomic factors in auto insurance pricing, drawing immediate opposition from industry groups.
The “Driving Change” campaign targets the use of credit scores, ZIP codes and age in rate-setting, with Giannoulias arguing that driving records should be the primary factor in determining premiums.
“As Secretary of State, I strongly believe that an individual’s driving record should serve as the primary factor that’s analyzed when setting auto insurance rates,” Giannoulias said at a Chicago launch event. “Insurance companies need to implement a ratemaking
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