Are there studies correlating credit score with anything?

Have any universities or independent groups studied whether it is a valid measure of whether a person will pay future bills? It is a valid indicator that a renter will not pay rent? Is it a valid indicator that someones house will more likely catch fire or have some other home owner insurance claim? My insurance costs more because I did not have medical insurance to cover my broken arm. What statistics are available. If you do not know, please do not answer with theories and value judgement. This question is about actual statistical research.