Consumers to earn a victory in auto insurance, the policy coming shortage
‘The Wrong Road to Auto Insurance”(Editorial, May 13) is right in principle, although probably optimistic in Proposition 103, impact on reducing auto insurance rates in California. However, the result of commercial insurance for lines, spectators in this Shootout, is not benign.
The result of Proposition 103 will be essential that insurance is difficult to find. This is because, in the commercial lines covering requirements for manufacturers, small entrepreneurs, hospitals, nurseries and other centres, it is difficult to determine a fair return from the losses are difficult to predict. The losses are not known for years or decades.
This is particularly true given that Proposition 103, by eliminating the exemption agreements between insurers at the state level, reduces the opportunity for insurers, the data necessary to determine rates. More Proposition 103 has politicized the issue by an elected with a clear preference for low prices.
Insurers have contributed to limiting their heads in this area, and banks, while the loan maybe for commercial lines, are reluctant to fill a capacity of the vacuum lines for personal risk. The insurer insolvency rate has increased, appears in large part to be supplied by commercial insurance ventures.
Proposition 103 can not, in essence, but benign for automotive consumers. The irony lies in the fact that commercial insurance consumers may refer to genuine difficulties in finding insurance in the next cycle of renewal. David A. OLSEN New York, May 17, 1989
The writer is president of Johnson & Higgins, an insurance brokerage.
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