Watching Consumers’ Online habits to Set Insurance Rates
State lawmakers across the country are growing concerned about a new practice by the insurance industry: setting prices based on their customers’ retail shopping habits and Internet search histories. CQ’s Clyde McGrady reports that consumer groups have pushed legislators and regulators to stop insurers from figuring out the highest amount they can charge policyholders before a customer will switch companies — based on personal data insurers buy from online snooping services.
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