Consumer Watchdog Calls on Insurance Commissioner Lara to Reject Allstate's Job-Based Insurance Rate Discrimination, Adopt Regulations to Stop the Practice Industrywide
Retrieved on:
Thursday, September 22, 2022
Insurance commissioner, Income, Department, COVID-19, Consumer Watchdog, Proposition 103, GEICO, Organization, Commissioner, Letter, Allstate, Occupation, Royal Automobile Club of Victoria, Mercury General, PPA, Car, Multimedia, California Department of Insurance, Education, View, Insurance, Insurance
LOS ANGELES, Sept. 22, 2022 /PRNewswire/ -- Insurance Commissioner Ricardo Lara should reject Allstate's proposed $165 million auto insurance rate hike and its two-tiered job- and education-based discriminatory rating system, wrote Consumer Watchdog in a letter sent to the Commissioner today.
Key Points:
- LOS ANGELES, Sept. 22, 2022 /PRNewswire/ -- Insurance Commissioner Ricardo Lara should reject Allstate's proposed $165 million auto insurance rate hike and its two-tiered job- and education-based discriminatory rating system, wrote Consumer Watchdog in a letter sent to the Commissioner today.
- The group called on the Commissioner to adopt regulations to require all insurance companies industrywide to rate Californians fairly, regardless of their job or education levels, as he promised to do nearly three years ago.
- Overall, the rate hike will impact over 900,000 Allstate policyholders, who face an average $167 annual premium increase.
- The Insurance Commissioner has failed to act on a regulation proposed three years ago to curb job- and education-based rate discrimination.