Auto Insurance
FORCED INSURANCE OF AUTOS FAVORED; Virtues of Plan Outweigh Its Faults, Says Report of State Agency to the Legislature INSURERS’ ‘FEARS’ SCORED Study Urges Property as Well as Personal Liability Coverage, No Rate ‘Strait-Jacket’
An exhaustive report that favors compulsory automobile insurance was submitted yesterday to every member of the State Legislature by the State Insurance Department. The document emphasized that in 1952 uninsured, financially irresponsible motorists will be involved in accidents causing losses of about $14,500,000 to residents of the state.
Source : select.nytimes.com
Leave a comment
Comments Already Given »
No comments yet.
Related Articles from Auto Insurance
Repeal no-fault law, say insurers.
Insurance companies and others who want Florida's no-fault auto insurance law to lapse may not be in the driver's seat. But a study released Friday pushed their cause. A report by the national Insurance Research Council shows the insurer costs to pay personal injury protection claims jumped 18 percent in the past three years, about twice the rate of inflation. In other words, insurers say, the law that requires coverage for uninsured motorists and accident victims isn't working. But the study was immediately called into question by the group that wants Florida's no-fault law extended. The study showed that as
Repeal no-fault law, say insurers.
Insurance companies and others who want Florida's no-fault auto insurance law to lapse may not be in the driver's seat. But a study released Friday pushed their cause. A report by the national Insurance Research Council shows the insurer costs to pay personal injury protection claims jumped 18 percent in the past three years, about twice the rate of inflation. In other words, insurers say, the law that requires coverage for uninsured motorists and accident victims isn't working. But the study was immediately called into question by the group that wants Florida's no-fault law extended. The study showed that as
Mandatory Auto Insurance Really Raises Rates
''Uninsured Drivers Create Other Kinds of Wreckage'' (front page, Sept. 3) suggests that enforcing mandatory automobile insurance laws has the favorable impact of reducing auto insurance rates. Every study on compulsory auto liability insurance has demonstrated that such laws accelerate the cost of such insurance. Enforcement increases the cost of administration to taxpayers and is ineffective. The purpose of liability insurance is to protect the assets of the offending party, not to provide solace for the injured. For that purpose, liability insurance is inefficient. A Department of Transportation study shows that only 44 percent of the dollars paid in reaches
Compulsory Auto Insurance Sought in Legislative Report; Special Committee Also Urges Companies to Set Up Plan to Compensate Victims of Hit-Run and Stolen-Car Drivers INSURANCE URGED FOR ALL DRIVERS
A special joint legislative committee, with Governor Dewey's active encouragement, recommended today that all automobile owners in New York State be required to carry liability insurance and that insurance companies be required to set up a plan for compensating innocent victims of hit-and-run accidents, stolen car operators and uninsured out-of-state drivers. Source : select.nytimes.com
THE 1997 ELECTIONS: THE VOTERS; The Deciding Issues: Taxes and Insurance
In her annual speech to the Legislature in January, Gov. Christine Todd Whitman promised to pass legislation that would reduce the state's high auto insurance rates. And although her proposal to lower premiums was rejected by the State Legislature, it provided the fodder for what would become the most important issue in the Republican governor's re-election bid. Her opponent, James E. McGreevey, seized on the Governor's failure to deliver rate relief to drivers, and used the issue, as well as the state's increasing property taxes, to set the agenda throughout the race. Although Mr. McGreevey was ultimately forced to concede