2003 Credit Scoring Data Call

STATE OF MARYLAND MARYLAND INSURANCE ADMINISTRATION 525 St. Paul Place, Baltimore, Maryland 21202-2272 To: Select Private Passenger Automobile Insurers Re: 2003 Credit Scoring Data Call Date: November 26, 2003 Bulletin: Property and Casualty 03-17 ***************************************************************************** Pursuant to Section 3, Chapter 580, Acts 2002, the Maryland Insurance Commissioner is required to conduct a study on whether the use of credit scoring in Maryland has an adverse impact on any demographic group defined by race or socio-economic status. In order for the Commissioner to conduct this study, please provide the following information: • The name of the credit model used to generate a credit score. • For each selected zip code: • the number of policies with a credit score comparable to a credit score of less than 700 points in the ChoicePoint Attract MD Standard Auto model. • the number of policies with a credit score comparable to a credit score equal to or greater than 700 points in the ChoicePoint Attract MD Standard Auto model. If you are unable to provide the requested data, you will be required to provide, for each selected zip code, the number of policies for each credit score range as contained in your company’s filed rating plan. For each insurance group that uses a proprietary model, provide the requested data by insurance company, not by group. The requested data should be provided in the excel spreadsheet format shown on the enclosed “Format for 2003 Credit Scoring Data Call”. Enclosed is a sample worksheet to be used as a guide. ROBERT L. EHRLICH, JR. GOVERNOR MICHAEL S. STEELE LIEUTENANT GOVERNOR ALFRED W. REDMER, JR. COMMISSIONER JAMES V. MCMAHAN, III DEPUTY COMMISSIONER P. RANDI JOHNSON ASSOCIATE COMMISSIONER P&C Property and Casualty Bulletin 03-17 Page 2 Please submit your data in the requested excel format via email. Electronic submission is mandatory. No paper documents will be accepted. Data should be submitted to: marnold@mdinsurance.state.md.us or cruppel@mdinsurance.state.md.us If you have any questions, please contact Cathy Ruppel, Insurance Analyst, by phone at (410) 468-2316, by fax at (410) 468-2306, or by email at cruppel@mdinsurance.state.md.us. Please provide this information no later than December 22, 2003. __________________________________________ Alfred W. Redmer, Jr. Insurance Commissioner Enclosures: Format for 2003 Credit Scoring Data Call Sample Spreadsheet for 2003 Credit Scoring Data Call Format for 2003 Credit Scoring Data Call All data must start in cell A2 of the spreadsheet. Please use Headers. Below lists the columns in which the data must be placed. The placement of data must conform to this format or the submission will be returned. The data must be placed in the following columns: Column Description A NAIC Group Code B NAIC Company Code C NAIC Company Name (Not Group Name) D Name of Credit Model E Maryland Region (as listed on the spreadsheet) F Selected Zip Code (as listed on the spreadsheet) For each selected zip code provide: G The Number of Policies with a credit score less than 700 points H The Number of Policies with a credit score equal to or greater than 700 points OR: In place of columns H and I, insert the appropriate number of columns and add headers to list each credit score range as contained in your company’s filed rating plan. Then, provide the number of policies for each selected zip code. Requirements: 1. The number of policies must be provided in numerical entries to zero decimal places. Round off to whole numbers. 2. If no data is available for a column, insert N/A. 3. In the event that further explanation is needed for any of the columns, please use an attachment. 4. Everything must be on one spreadsheet page. Sample Spreadsheet for 2003 Credit Scoring Data Call 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 A B C D E F G H NAIC Group Code NAIC Company Code NAIC Company Name Name of Credit Model Maryland Region Selected Zip Code Number of Policies < 700 Points Number of Policies =/> 700 Points Central Maryland 21202 Central Maryland 21223 Central Maryland 21205 Central Maryland 21217 Central Maryland 21056 Central Maryland 21794 Central Maryland 21131 Central Maryland 21093 Central Maryland 21044 Central Maryland 21046 Central Maryland 21029 Central Maryland 21152 Central Maryland 21005 Central Maryland 21010 Central Maryland 21402 Central Maryland 21031 Central Maryland 21216 Central Maryland 21213 Central Maryland 21215 Central Maryland 21201 Central Maryland 21087 Central Maryland 21158 Central Maryland 21787 Central Maryland 21122 Central Maryland 20794 Southern Maryland 20632 Southern Maryland 20645 Southern Maryland 20628 Southern Maryland 20690 Southern Maryland 20677 Southern Maryland 20623 Sample Spreadsheet for 2003 Credit Scoring Data Call 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 A B C D E F G H Southern Maryland 20675 Southern Maryland 20667 Southern Maryland 20670 Southern Maryland 20626 Southern Maryland 20662 Southern Maryland 20658 Southern Maryland 20608 Southern Maryland 20615 Southern Maryland 20624 Southern Maryland 20636 Southern Maryland 20621 Southern Maryland 20617 Eastern Shore 21853 Eastern Shore 21643 Eastern Shore 21612 Eastern Shore 21666 Eastern Shore 21619 Eastern Shore 21654 Eastern Shore 21658 Eastern Shore 21866 Eastern Shore 21864 Eastern Shore 21821 Eastern Shore 21820 Eastern Shore 21840 Eastern Shore 21856 Eastern Shore 21626 Eastern Shore 21824 Eastern Shore 21912 Eastern Shore 21865 Eastern Shore 21814 Prince George's & Montgomery 20743 Prince George's & Montgomery 20785 Prince George's & Montgomery 20839 Prince George's & Montgomery 20812 Sample Spreadsheet for 2003 Credit Scoring Data Call 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 A B C D E F G H Prince George's & Montgomery 20815 Prince George's & Montgomery 20817 Prince George's & Montgomery 20816 Prince George's & Montgomery 20763 Prince George's & Montgomery 20794 Prince George's & Montgomery 20755 Prince George's & Montgomery 20745 Prince George's & Montgomery 20747 Prince George's & Montgomery 20746 Prince George's & Montgomery 20759 Prince George's & Montgomery 20838 Prince George's & Montgomery 20751 Prince George's & Montgomery 20737 Prince George's & Montgomery 20706 Western Maryland 21713 Western Maryland 21719 Western Maryland 21771 Western Maryland 21770 Western Maryland 21784 Western Maryland 21754 Western Maryland 21755 Western Maryland 21531 Western Maryland 21522 Western Maryland 21555 Western Maryland 21701 Western Maryland 21702 Western Maryland 21740 Western Maryland 21520 Western Maryland 21711 Western Maryland 21773 Western Maryland 21523 Western Maryland 21710