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Article: The sensible approach to auto insurance reform. (no-fault auto insurance) (California & the Western States Supplement)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- May 6, 1991
- Author:
CopyrightCOPYRIGHT 1991 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Sensible Approach To Auto Insurance Reform
Americans spend over $80 billion a year for auto insurance premiums, and it's not surprising that insurance companies are about as popular as the drought. If the current liability system, which has left our courts deluged with attempts to determine who is at fault in accidents, only adds to soaring insurance costs, then what is the solution to reform?
We know it's not Proposition 103. Passed by the voters in 1988, Prop 103 has failed to deliver its promised, "immediate" rate cuts, and, if you believe as I do in the free-enterprise, open-competition system, we can't pass a law to cut the price of bread by 20 ...