Move Afoot At Federal Level That Could Gut California’s Prop. 103
The plan has drawn fire from the Santa Monica-based Consumer Watchdog,
formerly the Foundation for Taxpayer and Consumer Rights, which
believes the Royce-Bean plan would dramatically weaken regulation of
California’s insurance industry. In particular, the group believes the
proposal would gut Proposition 103, the 1988 California ballot
initiative authored by the group's leader and backed by national
consumer advocate Ralph Nader. The proposition created California’s
first elected insurance commissioner, sought to outlaw unfair and
discriminatory rates and beefed up the state’s regulatory landscape.
