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Statements from CFO Sink and General Milligan on Auto Insurers’ Use of Income, Job Info in Rate Setting

4/2/2007

CONTACT:  Tara Klimek or Nina Banister 
                 (850) 413-2842 
 
 
TALLAHASSEE— Responding to findings issued today by Florida Insurance Commissioner Kevin McCarty that auto insurance companies are using income and occupation information to set rates, Florida Chief Financial Officer Alex Sink and General Bob Milligan, Florida’s Insurance Consumer Advocate, issued the following statements: 
 
Florida Chief Financial Officer Alex Sink:
 
“Just because something might be legal doesn’t make it right.  I don’t see how someone’s job reflects on how they drive or what rates they should pay. Rates should be fair and based only on actual risk.”
 
General Bob Milligan, Insurance Consumer Advocate:
 
“I will support the efforts of the Office of Insurance Regulation as they move to fix this egregious situation through quick legislative action and appropriate rulemaking.”