Proposition 103 Nearing End of Long Fight for Fair Car Insurance
It's been a 20-year battle fraught with court challenges and millions in legal bills, but California drivers should emerge victorious in a contentious battle for fair auto insurance rates by August 2008.
By then, insurance companies have to be in compliance with state rules that say your driving history matters more than where you live when determining rates.
We're nearing the conclusion of the long, drawn-out battle over Proposition 103, which was approved by voters in 1988 and imposed stringent regulations on the insurance industry.
"I was only 37 when I wrote this, and I'll be 55 next year," said Harvey Rosenfield, author of Proposition 103 and founder of the Santa Monica-based Foundation for Taxpayer and Consumer Rights. "In a way, I'll tell you, it reflects very poorly on our government and judicial system."
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It's about time! Now if we can just apply Prop 103-style rules to the greedy health insurance companies, we could stop them from unfairly jacking up their rates too!