Insurance Remains Unaffordable to Many Due to the Commissioner’s Lack of Implementation and Enforcement of Proposition 103
A new report released today by the Proposition 103 Enforcement Project shows that California Insurance Commissioner Chuck Quackenbush‘s failure to implement and enforce Proposition 103 is costing consumers billions of dollars annually.
- slashed refunds owed to consumers from 70 insurers by $603.7 million
- refused to order insurers to lower rates due to excessive profit levels, which are 60% higher than the national average
- refused to adopt a decision finding that the California Earthquake Authority‘s rates are illegal
- permitted the continued use of ZIP-code based auto insurance rates
“This report provides the first comprehensive look at Proposition 103‘s implementation and Commissioner Quackenbush‘s complete failure to abide by the voters’ mandate,” said Philip Roberto, research director for the Proposition 103 Enforcement Project.
The Project will present the report as testimony at a hearing of the Select Committee on Insurance Reform at the state Capitol on Friday, September 25, 1998 (10:00 a.m., Room 126). The Committee is holding the hearing to look at auto insurance availability and affordability.