Safeco Fined $25,000 for Credit Score Violation
OLYMPIA, Wash. — The Office of the Insurance Commissioner levied a $25,000 fine against Safeco Insurance Company of America, Seattle, for the unlawful use of credit information to determine insurance premiums and other violations.
The violations included the use of an unapproved scoring model that used the number of credit inquiries as a component of the score. The company said that 21,260 Washington policyholders were involved, including 965 who were adversely affected and received refunds totaling more than $170,000.
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