The state regulator is considering implementing a ban on the use of a customer’s job to calculate premiums. New York auto insurance premiums calculations may soon deviate from strategies used by most U.S. states. The industry regulator is currently deciding whether or not to ban the practice of using a customer’s occupation as a factor in calculating rates. The New York Department of Financial Services has asked leading insurers why the practice is used. It has requested this information from Allstate Corp., the Geico unit at Berkshire Hathaway Inc., Progressive…
Read MoreNew York auto insurance companies may be stopped from asking a person’s occupation
