Live Insurance News

Auto insurance Proposition 33 rejected by voters

November 8, 2012April 30, 2013

The ballot measure that was designed to allow insurers to offer new discounts has been defeated. Voters in California have now rejected the Proposition 33 auto insurance measure, which was created to give insurers the ability to offer discounts to customers who maintained continuous coverage, but increase the rates for drivers whose coverage history was inconsistent. The current law in the state already allows for loyalty discounts for drivers who remain with one insurer. However, that law also stops those car insurers from using the discounts as a way to…

Auto insurance industry backs California Proposition 33

October 30, 2012October 28, 2012 S.Vagus

Proposition 33 could have major implications for auto insurance In California, Proposition 33 has won the support of the insurance industry. The legislative measure is designed to allow consumers that have held policies in good standing with the same auto insurance company for five years to switch companies and still receive so called “loyalty benefits.” Though Proposition 33 seems straightforward, it has created some controversy in the world of auto insurance and with some special interest groups. Nonetheless, many in the insurance industry support the measure, claiming that it will…

Mercury Insurance invests more money in Prop 33

October 10, 2012October 10, 2012 S.Vagus

Mercury Insurance executive donates more funds to controversial legislative initiative Mercury Insurance executive George Joseph has donated more money to a legislative initiative in California, the fate of which will be determined in November this year. The initiative is known as Proposition 33 and aims to provide more rate increase freedoms to the state’s auto insurance companies. Mercury Insurance has been one of the strongest advocates of the initiative, which has earned the company a fair amount of criticism for wanted to raise rates in an unjustified manner. Prop 33…

Auto insurance customers with coverage gaps may face higher rates

October 8, 2012October 7, 2012 H. Cutner

Battle over automobile coverage law in California rages on for two decades. The auto insurance war that regarding the laws in California are now entering their second decade between George Joseph, the billionaire Mercury General Corp. executive, and Harvey Rosenfield, the consumer advocate. The latest battle in the war will occur in November, when the two will face off over a ballot initiative. The initiative could bring the auto insurance law in California back to the way that it was before a provision was implemented in 1988. This would allow…

California insurance group battling rates under attack

October 8, 2012April 30, 2013

Consumer Watchdog has been facing criticisms regarding its latest steps. A consumer group that has backed a recent California insurance initiative and has saved residents of the state from millions of dollars in fees is now facing a new wave of fire from both Democratic and Republican lawmakers and political consultants. Critics have pointed out that Consumer Watchdog has been profiting from the new regulation. Moreover, it has also found that the special California insurance regulation is, essentially, dominated by the advocacy group. The consultants are arguing that the organization…

California insurance agents and brokers brush off Prop 33 scare tactic

July 19, 2012April 30, 2013

These industry pros are unconcerned about Consumer Watchdog’s opposition efforts. Independent California insurance agents – industry professionals who help their customers to obtain the best possible coverage prices – have spoken out against the press release from Consumer Watchdog regarding campaign web addresses, brushing it off altogether. Prop 33 supporters are saying that the domain regulations had not been defined when they were purchased. According to Proposition 33 proponent, Mike D’Arelli, of the American Agents Alliance, “The consultants purchased domain names when the designations of the 2012 state ballot measures…

California brokers and agents announce 2012 Automobile Insurance Discount Act

July 15, 2012April 30, 2013

Proposition 33 has now been officially assigned by the office of the Secretary of State. Consumer advocates, along with California agents and brokers, who have been seeking new opportunities for drivers to be able to shop for better deals, have announced that Proposition 33 has now been assigned to the 2012 Automobile Insurance Discount Act by the Secretary of State’s Office. This proposition is meant to reward motorists for maintaining their coverage and following the law. It also gives drivers in the state the opportunity to use a their loyalty…