Insurance Premiums are Based on Risk of Loss
CHICAGO - The following statement by the Property Casualty Insurers Association of America (PCI) is in response to the recent story by ProPublica that misconstrues how auto insurance rates are set. The following statement can be attributed to David Snyder, PCI’s vice president of policy development and research. “Consumers should be assured that auto insurance pricing is fair and objective. The ProPublica article is based on flawed research and analysis that results in false and misleading conclusions. “Race, income, and ethnicity are never collected or used for insurance rating. Auto