Ontario MPP Mike Colle launches petition to extend ban on credit scoring to personal property lines

Ontario Member of Provincial Parliament Mike Colle (Eglinton-Lawrence) has launched a petition calling for an extension of the ban on the use of credit scoring to personal property.
Colle was vocal in the banning of the use of credit scoring in auto insurance in 2005. In November 2010, he tabled Bill 130: The Homeowners Insurance Credit Scoring Ban Act, demanding the extension of the ban to homeowners, condominium and tenant insurance.
“The use of credit scoring is a secretive and unfair practice, which results in home and property insurance being denied or premiums going through the roof,” Colle said in a statement. “It is time to ban this practice, [which] is especially hard on those who can least afford it, such as seniors, single-family households and small businesses.”
In the statement, The Insurance Brokers Association of Ontario (IBAO) said it was “pleased” with Colle’s position.
“Following the leadership Mr. Colle took in 2005, when he helped ban credit scoring in auto insurance, we are pleased MPP Colle has taken the initiative, and recognized how unfair this practice is to Ontario’s consumers,” said IBAO CEO Randy Carroll.
For more information, or to download the petition: visit www.mikecolle.com; call 416-781-2395; or email mcolle.mpp.co@liberal.ola.org