In most of America, your job can affect how much you pay for car insurance. The New York Department of Financial Services has told four insurance companies to explain why "using occupation and education in pricing shouldn’t be prohibited" for drivers, according to reports. In a letter sent on Tuesday, the department said that it was concerned about how drivers are being priced by insurers, which have been accused of charging higher rates based on their occupation. State regulators have found people in "unfavourable jobs" can pay more, while attempts to use more measured data, such as telemetrics, has met with resistance from drivers.
The New York Department of Financial Services has told four insurance companies to explain why "using occupation and education in pricing shouldn’t be prohibited" for drivers, according to reports. In a letter sent on Tuesday, the department said that it was concerned about how drivers are being priced by insurers, which have been accused of charging higher rates based on their occupation. State regulators have found people in "unfavourable jobs" can pay more, while attempts to use more measured data, such as telemetrics, has met with resistance from drivers.