New state law aims to ensure insurance companies don’t set rates that discriminate based on race
Colorado is the first state to pass a law designed to ensure that insurance companies cannot set rates in a way that discriminates against people from traditionally underrepresented communities. For example, using algorithms that force Black people to pay more for coverage because of their race. Enforcing that law means taking a deep dive into the sometimes arcane data that goes into the formula that determines how much we pay for car and life insurance. It's a job that falls to Colorado's Insurance Commissioner, Mike Conway.