Geico News
August 5th, 2007 -
Berkshire Eagle Online - Geico welcome, but by state's rules ...
The nation's fourth largest insurer, Geico insures cars in every state but Massachusetts, the only state where rates are set by a government agency. Geico, however, sets rates in other states based on socio-economic factors such as education, occupation, home ownership and credit history that, unlike a driving record, should have no relevance to auto insurance rates.....
Berkshire Eagle Online, 8/9/2007
June 1st, 2007 - Report Released on Use of Occupation and Education as Factors in Determining Rates and Underwriting
TALLAHASSEE, Fla., PRNewswire/ -- The Florida Office of Insurance Regulation (Office) today issued a report analyzing the insurance industry's use of occupation and education for the underwriting and rating of auto insurance policies. The report finds the use of these practices unintentionally harms minorities and low-income individuals in determining auto insurance premiums and insurance eligibility.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/04-05-2007/0004560377&EDATE
May 20th, 2007 - Gov should drive real auto reform
Say what you will about Gov. Mitt Romney, but when it came to reforming the state's dysfunctional auto insurance system his administration tried everything to get the state in gear.
http://news.bostonherald.com/editorial/view.bg?articleid=191199&srvc=home
May 15, 2007 - Conn. AG Says GEICO to Pull 'Misleading Charo' Ad
Connecticut Attorney General Richard Blumenthal said that GEICO insurance company has said it will no longer run what Blumenthal claims is "a false and misleading television advertisement" in the state that claims the company repairs cars in a few days or less.
http://www.insurancejournal.com/news/east/2006/09/17/72479.htm
May 10th, 2007 - New Jersey: Higher Insurance Rates for Blue Collar Workers
Geico insurance charges more to insure the automobiles of customers who have a lower occupational status or educational background. In a February 2004 document entitled "Geico Auto Group Guide to Company Placement," the insurer explains how "unskilled and semi-skilled blue- and gray-collar workers" are more of a risk and should be charged higher rates accordingly.
http://www.thenewspaper.com/news/09/987.asp
April 16, 2007 - Geico Insurance Rates 'Very Unfair'
The Consumer Federation of America (CFA) charged that the No. 4 U.S. auto insurer, has adopted rating methods and underwriting guidelines in 44 states that directly tie rates to education and occupation.
http://www.foxnews.com/story/0,2933,188537,00.html