Credit Related Insurance

We have provided our expertise in credit related insurance in several ways:

• Assisted the NAIC Credit Property working group on drafting a Credit Property Model Act, directly consulting with the Commissioner of Alabama, the chair of the group. 
• Assisted with the setting of statewide maximum rates, or prima facia rates, for insurance products where the product’s price is not driven by competitive market pressures or the relationship between losses and premium. 
• Assisted the Alabama insurance department in the setting of maximum rates for property credit products and other regulations related to involuntary unemployment products.
• Matt Merlino participated in the development of the resulting rules and regulations related to these products.