Calif. Consumer Advocate Rosenfield Urges Mass. to Repeal No-Fault, Make Other Auto Changes
East News • March 29, 2005
Massachusetts should repeal its no-fault law, end its reliance on uniform state-set rates, and remove the state antitrust exemption for auto insurers if it wants to improve its auto insurance ...
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Subject: COMMON SENSE
Posted On: March 29, 2005, 11:17 pm CST
Posted By: Winston
Comment:
Fact: Insurance rates, especially auto insurance rates, is out of control.
According to the stats quoted in the article hereto, MA would had saved approx. $50 if no-fault was done away.
Call me crazy but I doubt that anyone is crying afoul over their own respective policy due to 50 bucks.
I love to read articles wherein the insurance industry point the finger at fraud and litigation as the prime reason for insurance rates insofar as the reason and the statistics commonly mentioned never justify the actual rates.
WHEN WILL CONSUMERS REALIZE THAT THIS IS PROPAGANDA. THIS IS SIMPLY A JUSTIFICATION FOR RAISING INSURANCE RATES!
Let us not forget that it was J. Greenberg who delighted over having the opportunity to raise rates after hurricane Andrew.
Fact: Rates are high because insurance carrier are in the business of turning huge profit and making money.
What good is competition in the insurance industry if the said is not sufficiently regulated and monitored by the appropriate governmental agencies.
Let us say that the costs associated with writing a particular risk fell, do you really believe the insurance industry would adequately and fairly pass the savings on to the consumers--I say not. What the would probably do is save each customer about 20 bucks and report the entire amount saved by all of the customers to reflect a distorted view.
The trade off is not worth the few bucks that you might be possibly saving.
Subject: COMMON SENSE
According to the stats quoted in the article hereto, MA would had saved approx. $50 if no-fault was done away.
Call me crazy but I doubt that anyone is crying afoul over their own respective policy due to 50 bucks.
I love to read articles wherein the insurance industry point the finger at fraud and litigation as the prime reason for insurance rates insofar as the reason and the statistics commonly mentioned never justify the actual rates.
WHEN WILL CONSUMERS REALIZE THAT THIS IS PROPAGANDA. THIS IS SIMPLY A JUSTIFICATION FOR RAISING INSURANCE RATES!
Let us not forget that it was J. Greenberg who delighted over having the opportunity to raise rates after hurricane Andrew.
Fact: Rates are high because insurance carrier are in the business of turning huge profit and making money.
What good is competition in the insurance industry if the said is not sufficiently regulated and monitored by the appropriate governmental agencies.
Let us say that the costs associated with writing a particular risk fell, do you really believe the insurance industry would adequately and fairly pass the savings on to the consumers--I say not. What the would probably do is save each customer about 20 bucks and report the entire amount saved by all of the customers to reflect a distorted view.
The trade off is not worth the few bucks that you might be possibly saving.