California’s auto insurance regulation system may have stifled competition in the state and kept consumers from enjoying premium reductions over the past decade, according to a recent analysis presented at the winter meeting of the National Association of Insurance Commissioners by David Appel.
Earlier this year, a report by the Consumer Federation of America concluded that the state of California, under the provisions of 1988’s Proposition 103, should serve as a model for state insurance regulation. At the request of the Alliance of American Insurers, the American Insurance Association, the National Association of Independent Insurers and the National Association of Mutual Insurance Companies, Appel conducted an unbiased, detailed, and factually supported review of the CFA study.
