Proposition 103

Consumer Watchdog’s Prop 103 Challenges Bring $227 Million in Insurance Rate Savings

Nonprofit Saves Public $3.4 Billion Over Last 15 Years But Sees Insurance Industry Attack
 
Consumer Watchdog’s challenges filed under Proposition 103 to proposed auto, home and business insurance rate increases saved consumers $227.4 million in 2017, the nonprofit, nonpartisan public interest group said today.
 
Since 2003, the group’s challenges in rate proceedings before the Department of Insurance have saved consumers a total of $3.4 billion. Savings have averaged a little more than a quarter of a billion dollars – $227 million – per year.
 

Court Rejects Insurance Industry Sleight-of-Hand

“Hocus pocus.”  “Smoke and mirrors.”
 
These words appeared late Friday afternoon in a published decision of the California Court of Appeal in Sacramento describing the insurance industry’s latest failed attack on the consumer protections of insurance reform Proposition 103.
 
The Court upheld Prop 103 rules that prevent insurance companies from earning excessive profits and prohibit them from passing on excessive costs – like sports sponsorships – to consumers.
 

Capitol Watchdog is owned and operated by nonprofit Consumer Watchdog. For more information about Consumer Watchdog visit http://www.consumerwatchdog.org

 
 

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