A new formula 103 (proposed a new insurance scheme automobile)
Frustrated in its final stages of extracting 2.5 billion dollars of the USA for 20 million California car, materials and insurance liability insurance, public insurance Commissioner John Garamendi in accordance with the industry and their lawyers, they likening “plotter of the coup d’état Verpfuschte Kremlin” wants to reverse its long-delayed implementation of Proposition 103
Then he hesitated objects of his anger and support the initiative of 1988, and by the sudden notion vast Proposition 103 was developed around the head from: a no-fault auto insurance system. The system, he adds, “strict control over costs swell, that our premiums - car repair, fraud, medicine, security and crime”.
In August, Garamendi unveiled new rules for the calculation of rebates owed by individual companies. Proposition 103 requires a Rollback-20 percent of premiums for 1987 and the freezing of 1989.
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