Credit Crisis: N.B. insurers given go-ahead for credit-based rates adjustments
Fredericton, New Brunswick — New Brunswick is a province that has been getting by the best they can despite a growing financial struggle for many of its residents, but the introduction of credit scores as a factor in setting auto insurance rates in the province is leaving many New Brunswickers without an adequate starting point. […]
Credit Cleared: RSA Canada receives approval for credit-score based auto insurance in Nova Scotia
Halifax, Nova Scotia — Nova Scotia’s insurance regulator has approved RSA Canada’s introduction of a Quality Rating Factor (QRF), which uses credit scoring for rating auto insurance. RSA Canada’s proposed QRF will only apply to writing new auto business, not existing business. The board noted that it has already approved the use of the QRF […]
