RULE 05.7 - INSURANCE SCORE
In order to properly underwrite and rate an insurance risk, an Insurance Score is being implemented. An Insurance Score will be assigned to all new business applicants. An Insurance Score will also be obtained for all current policyholders at their first and each subsequent renewal after the implementation of this Insurance Score.
Several factors will be used to determine an Insurance Score. One of the factors will be a Financial Responsibility Score. A Financial Responsibility Score will be obtained on all new business and on all renewals at their first renewal after the implementation of the Insurance Score. A Financial Responsibility Score will also be obtained at every third annual renewal for all policyholders.
Refer to Rule 30.2G for Insurance Score tiers and factors.
