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March 05, 2007 at 12:27 PM
Many life insurers appear to have been asking Florida applicants questions about travel plans, officials say.
Florida lawmakers have passed a law prohibiting insurers from basing underwriting decisions on an applicant’s past lawful travel or lawful future travel plans, unless the insurers have supplied evidence that questions about travel are actuarially justified.
The Florida Office of Insurance Regulation has conducted a survey and an examination to find out how common travel underwriting really has been.
When regulators asked the carriers, 127 of the 516 companies with active certificates of authority said they have included travel-related questions in their application materials or underwriting guidelines, and 7 companies reported 15 instances of decisions to refuse coverage or deny extension of coverage based on travel-related questions, officials write in a report on the work.
