Michigan legislators who want to limit the use of credit scores in setting insurance rates do not have the facts on their side (“Bill aims to limit use of credit scores,” June 19). Actuarial studies have documented a statistically significant link between the number of claims filed by an individual and the level of credit reliability achieved by that individual through careful management of personal finances. Those studies have also shown that the use of credit scores isn’t ethnically or racially discriminatory. While insurers should be required to disclose how they use credit scores, significantly restricting the practice will hurt everyone.
Matthew Glans, Chicago