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Date:         Thu, 13 Feb 2003 15:44:54 -0800
Reply-To:     Mark Dorm <mark_hb@HOTMAIL.COM>
Sender:       Vanagon Mailing List <vanagon@gerry.vanagon.com>
From:         Mark Dorm <mark_hb@HOTMAIL.COM>
Subject:      Re: Insurance and credit checks
Comments: To: gstearns@OPTONLINE.NET
Content-Type: text/html

<html><div style='background-color:'><DIV> <P>So if you go bankrupt you also go uninsured? Or if you don't/can't pay old school loans you'll be doing a lot of walking. And the trick is learning how to recreate a better FICO, or whatever it is that they use, when you get hit sideways in life, you fault or not. </P> <P>So what are these tricks? I know its more than just paying back an old loan (in fact I don't think that would be the best way to go about it.... )<BR><BR></P></DIV> <DIV></DIV> <DIV></DIV> <DIV></DIV> <DIV></DIV> <DIV></DIV>&gt; <DIV></DIV>&gt;The agent does not get your credit history when they request this score. <DIV></DIV>&gt;They get only a letter or number grade. They then plug this grade into the <DIV></DIV>&gt;insurance rating program to produce a final premium. All of the companies <DIV></DIV>&gt;that we represent use this score to give you lower premium as well as a <DIV></DIV>&gt;higher one. The reason that most insurance agents don't like this system is <DIV></DIV>&gt;because of the public misperception. My staff spends far too much time <DIV></DIV>&gt;having to respond to confused clients who rightfully ask "what does my <DIV></DIV>&gt;credit rating have to do with auto insurance" . Worse is when the score <DIV></DIV>&gt;comes back with a poor result; something's going on in the credit history <DIV></DIV>&gt;that our client doen't know about. We are forced into discussing credit <DIV></DIV>&gt;history and trying to convince them that we have no idea what's causing the <DIV></DIV>&gt;problem and that they'll have to contact the credit rating bureau to find <DIV></DIV>&gt;out. <DIV></DIV>&gt; <DIV></DIV>&gt;Though it's a useful underwriting tool to evaluate a potential insured, it's <DIV></DIV>&gt;doing some public relations damage to an industry that's damaged already. I <DIV></DIV>&gt;don't like insurance scoring either. <DIV></DIV>&gt; <DIV></DIV>&gt;Gary <DIV></DIV>&gt; <DIV></DIV> <DIV></DIV></div><br clear=all><hr>MSN 8 helps <a href="http://g.msn.com/8HMGENUS/2743">ELIMINATE E-MAIL VIRUSES. </a> Get 2 months FREE*.</html>


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