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Garamendi Could Save 20th Century

October 28, 1994

John Garamendi and the California Department of Insurance are doing all they can to get rid of 20th Century Insurance Co. because the insurer has charged too little for its policies and made too much money.

With careful underwriting and low-cost distribution, 20th Century has been able to offer some of the lowest-priced automobile insurance in California. Because of its efficiency, 20th Century has been able to earn more profit for each dollar of automobile premium than many of its less-efficient competitors.

By requiring 20th Century to return $119 million to its policyholders, Garamendi is leveling a gun on a company that is already reeling from earthquake losses ("20th Century's Quake Tab Hits $815 Million," Sept. 9).

John Garamendi might be able to save one of our state's best auto insurers by reducing or waiving the rebates.

JOHN FORTMAN

Glendale

Fortman is an independent insurance agent.

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