Rep. Takano Introduces Legislation to Study Racial Disparities in Auto Insurance Market
Rep.
A recent ProPublica report found that some large insurers charge drivers in minority neighborhoods as much as 30 percent more than other areas with similar risk profiles. Much of the data used to complete the analysis came from
"The lack of transparency in the auto insurance market makes it impossible to understand and address potential racial disparities," said
The Federal Insurance Office (FIO), which was established under the
During the final hours of the Obama administration, the FIO published a report that found nearly 20 million Americans do not have access to affordable automobile insurance, and that many of them are living in minority or underserved communities. The Trump administration has not filled the FIO's Director position, which has been vacant since
On
The FAIR RATES Act is supported by the
The full text of the legislation is available here (http://takano.house.gov/download/fair-rates-act).
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