Credit Information

Use of Credit Information

As a consumer, you know that paying bills on time is an important aspect of managing your credit rating. Your credit information, determined by major credit reporting agencies, can have a significant influence on many activities in your daily life.

Do all insurers use credit information?

Among IBC member companies, some do and some do not use credit information for insurance, and IBC has not taken a position for or against the practice, just as it does not hold a position on a wide variety of insurance practices. However, those insurance companies that do use credit information for insurance combine it with a number of factors to determine your insurance risk classification. By evaluating many factors together, insurance companies calculate the price for your policy.

For property and casualty insurance companies that use credit information, IBC has introduced a voluntary Code of Conduct that will enhance the protection of your privacy and other consumer rights.

More Information

for answers to some common questions about the use of credit information. If you have further questions, contact one of