Regulators efforts to rectify companies sales of life insurance with premiums based on race are continuing apace, said Jose Montemayor, Texas insurance commissioner.
Details of where regulators stand were outlined by Montemayor during the fall meeting of the National Association of Insurance Commissioners here.
To date, 1,600 companies have been surveyed or received regulatory scrutiny through annual statement filing reviews, he said.
Roughly 25 companies or company groups were found to have performed race-based underwriting that ranged from a handful of contracts to thousands of contracts, Montemayor continued.
A total of 40 examinations are now in progress and to date, six million policies have been adjusted to correct race-based underwriting, he added.