February 10, 1989 |
The state Supreme Court said today that it will hear oral arguments March 7 on the constitutionality of Proposition 103, the initiative to cut insurance rates. Under its rules, the court must decide the case within 90 days after the hearing. Proposition 103, approved by state voters in November, requires that auto and property insurance rates be reduced 20% below November, 1987, levels and frozen until November, 1989, unless an insurer can show a substantial threat of insolvency.
May 12, 1994 |
Just how much is your insurance agent worth to you? That question is at the heart of a soon-to-be-decided legal battle between big insurance companies and a handful of California insurance agents who want to rebate their commissions openly. If the issue is ultimately decided in favor of the insurers, rebates could be much more difficult to find--eliminated by law or in practice.