Chron editors again abandon common sense

The Chronicle's editorial board, in a stunning display of ignorance, has slammed the use of credit ratings to set insurance premiums:

Statistically, the rate of claims for the 10 percent of policyholders with the worst credit scores was 1.5 to 2 times greater than that of the 10 percent with the best scores.

Linking credit scores to insurance rates is hopelessly contaminated by questions about the accuracy of the credit reports themselves and the documented result: disproportionately higher insurance rates for minority and lower- to middle-income Texans.

Let's face it, credit and insurance risk have a key factor in common: personal responsibility. The Chron makes it sound like there will be different pricing levels depending on the applicant's skin tone. That's absolutely false. Regardless of race, people with good credit get in fewer car wrecks, and the opposite is true. These are documented facts, and they're not surprising. After all, someone who's irresponsible with their money will likely be irresponsible in other areas, including behind the wheel. But what should we expect? The folks down at 801 Texas Avenue aren't exactly brilliant businessmen.