Wisconsin lawmakers are considering legislation that would increase costs for low- and middle-income insurance consumers, according to the National Association of Mutual Insurance Companies (NAMIC) and the Property Casualty Insurers Association of America (PCI).
Approximately 20 to 25 percent of all insured drivers in Wisconsin would be adversely affected by the proposed auto insurance provisions in Governor Doyle’s budget bill, the insurance trade organizations say.
Among other proposed changes, the Governor’s legislative initiative would:
- Make the required per-person injury limit four times the current level by increasing personal auto insurance financial responsibility limits from 25/50/10 (or coverage up to $50,000 for all persons injured in an accident, subject to a limit of $25,000 for one individual, and $10,000 coverage for property damage) to 100/300/25 (or coverage up to $300,000 for all persons injured in an accident, subject to a limit of $100,000 for one individual, and $25,000 coverage for property damage);
- Increase the minimum limit on medical payments to $100,000; and
- Make uninsured motorist (UM) coverage and underinsured motorist (UIM) coverage mandatory at 100/300 limits.
PCI research shows that low- and middle-income drivers living in the western, southwest, northern and east central counties of the state would shoulder the burden with the highest percentage increases in their liability premiums.
Milwaukee-area drivers would receive the highest dollar increases, according to PCI estimates on the cost impact on the state’s auto insurance liability premiums.
Source: Property Casualty Insurers Association of America, www.pciaa.net; NAMIC, www.namic.org
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