X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
“With this pandemic continuing to dramatically widen the country’s income and equality gap, I am proposing these new rules that make car insurance discounts more equitable and available to the communities who can least afford to pay more for insurance,” California Insurance Commissioner Ricardo Lara, said in a release. (Credit: BLACKWHITEPAILYN/Shutterstock.com) “With this pandemic continuing to dramatically widen the country’s income and equality gap, I am proposing these new rules that make car insurance discounts more equitable and available to the communities who can least afford to pay more for insurance,” California Insurance Commissioner Ricardo Lara, said in a release. (Credit: BLACKWHITEPAILYN/Shutterstock.com)

In an effort to extend group discounts for auto insurance to lower-income drivers, blue-collar workers and motorists of color, California has issued revised draft regulations following a two-year study that found group discounts disproportionately benefit wealthier and more highly educated Californians when it comes to auto rates, according to the California Department of Insurance.

The move would be the first major reform to group discounts since California voters approved Proposition 103 in 1988, the department reported. The revisions include:

This premium content is locked for
Insurance Coverage Law Center subscribers only.

Start a free trial to enjoy unlimited access to the single source of objective legal analysis, practical insights, and news for the insurance industry.

  • Access the most current expert analysis and daily developments across jurisdictions
  • Solve complex research issues with expert tools and intelligence
  • Tap into insurance coverage expert guidance

Already have an account?
For enterprise-wide or corporate access, please contact our Sales Department at 1-800-543-0874 or email [email protected].

 

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.