INSURANCE REDLINING

African Americans, minorities, senior citizens and individuals in impoverished areas are being targeted, on many fronts, as sources to make a quick profit because of their socio-economic position in society. In industries such as Insurance minorities are being preyed upon. These consumers are being charged outrageous fees and interest rates at an alarming rate. The NAACP in conjunction with the Michigan Legislative Black Caucus is preparing to introduce legislation, which would regulate these industries allowing low to moderate-income citizens to pursue the American dream of financial security.

Insurance redlining is nothing more than a concerted effort to concentrate poverty in urban and heavily minority populated cities. This practice consists of insurance companies charging excessive rates of insurance based on living in certain areas considered high risk. In an effort to help ensure African Americans and other minorities can participate in a prosperous economy and effectively accumulate wealth, the NAACP pledges to provide relief for residents of urban centers through state and federal legislation as well as city ordinances.