WASHINGTON – A recent Consumer Federation of America study has found that California has the most pro-consumer auto insurance regulation in the nation. The report found that the provisions of 1988′s Proposition 103 have created a system with higher profits, lower rate increases and more rapid declines in assigned rate drivers than in any other state. With reported annual averages of $700 per car and more than $1,500 per household, consumers spend, on average, more on auto insurance than on any other type of insurance – over $100 billion nationwide. According to the CFA report, from 1989 to 1998, while the national auto insurance rates had risen by 38.9% in the typical state, California’s had dropped by 4.0%-the best in the nation. The National Association of Insurance Commissioners has also released the most recent data and reported that in just one year the state’s auto insurance costs dropped by 8.5%. “These results confirm what we so recently reported, that California has the best auto insurance regulatory system in the country,” said J. Robert Hunter CFA director of insurance and former Texas insurance commissioner. “Every state needs a system modeled after this remarkable success story.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.