CAS Exam 6C Spring 2017, Question 2
Study guide: Exam 6C
An insurance company is considering the use of credit information for personal automobile insurance.
Part a (1 point)
Provide two arguments for and two arguments against the use of credit information.
Part b (1 point)
Briefly describe four principles in gathering consent to collect and use credit information.
Answer this question and see the worked solution
Concepts tested
- Credit-Based Insurance Scoring
- Risk Classification Restrictions
- Insurance Bureau of Canada
- Unfair Discrimination