FIRE Podcast- Sean Carr: HUD discrimination rule could hit homeowners insurance
[podcast]http://redesign.rstreet.org/wp-content/uploads/2012/06/fire020912.mp3[/podcast]
Homeowners insurers are concerned that a new proposed rule from the U.S. Department of Housing and Urban Development could subject long-standing rating and underwriting practices to scrutiny under the federal Fair Housing Act.
The ruling, which is primarily aimed at banks and other mortgage lenders, looks to proscribe housing policies or practices that “may have a disparate impact on a class of persons delineated by characteristics protected by the Act,” including “the provision and pricing of homeowner’s insurance.”
In this week’s edition of the FIRE Podcast, we talk to Sean Carr, a senior reporter who has covered the HUD ruling for financial news service SNL Financial, about the proposed rule and the impact it could potentially have on state insurance regulation and property casualty insurance broadly.
