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New Survey Finds Disparities by Race and Other Issues of Fairness in State Insurance Licensing Exams
November 11, 2009November 2009 marks an important anniversary for advocates of financial security. Twenty-five years ago, Golden Rule Insurance Company settled a long-running lawsuit in which it argued that the life insurance licensing exam in the state of Illinois was racially biased. While the settlement has made its mark in the academic debate surrounding testing, it has largely been forgotten within the industry where it started: life insurance. On this 25th anniversary of the settlement of the Golden Rule case, the Coalition for Financial Security (CFS) has published a new survey. The survey looks back at events surrounding the Golden Rule case and uses new data to suggest that issues of fairness that led Golden Rule to the courts in the 1970s may still persist in insurance licensing today. Full release.