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Regulation and Compliance > State Regulation

Sunshine State To Back Mobile Consumers

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The Florida Office of Insurance Regulation has scheduled a March 31 hearing in Tallahassee, Fla., on proposed insurance travel underwriting regulations.

The proposed regulations would prohibit insurers from using information about past lawful travel or future lawful travel plans to affect underwriting decisions for life insurance or other types of insurance coverage unless they have actuarial evidence to justify that use of travel information.

Insurers could not use travel-related information either as the basis for denying applications for coverage or increasing fees, OIR officials say.

A state law already bans travel-based discrimination by life insurers, and now the OIR wants to ban travel-based discrimination by all state-regulated insurers, officials say.

Officials note that 48 insurers have filed questionnaires with the OIR that include questions about past or intended future international travel.

“Insurers whose applications include questions about past or intended travel have been directed to withdraw those forms unless or until the insurer provides the [OIR] with actuarial justification for use of travel related questions,” officials say.

The hearing notice is on the Web at Document Link