General election holds several surprises; NAMIC warns of likely rate hikes in Washington following passage of R-67

Thursday, November 8th, 2007 Auto Legislation & Regulation Property

Washington consumers will likely see their rates increase as a response to the expected impact of the voter-approved legislation, Referendum 67. The referendum, which passed with 57 percent of the vote, will allow triple damages to be assessed for "bad faith" denials of insurance claims. "Washington state voters let fear prevail over fact this election year when they let the scare tactics of the trial bar lead them to ignore the facts surrounding insurer claims settlement practices and consumer claims experiences," said Christian J. Rataj, NAMIC’s Northwestern state affairs manager.

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http://www.namic.org/topnews/071107st3.asp

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