November 7, 1993 |
Early evening in Sacramento. Members of the Assembly Finance and Insurance Committee, looking tired and uncombed from a day of lawmaking, take their seats in Hearing Room 437 of the Capitol. Another dreary committee meeting in a legislative session that will extend far beyond this spring night. But there's something odd here.
October 13, 1993 |
Gov. Pete Wilson signed into law three bills that Insurance Commissioner John Garamendi--a likely contender for Wilson's job--said will cost California insurance customers hundreds of millions of dollars. Proposition 103 author Harvey Rosenfield also attacked the legislation Tuesday, saying it significantly weakens that 1988 voter initiative by watering down the commissioner's control over rates and relaxing antitrust standards designed to prevent insurance price fixing.
August 18, 1993 |
In the largest Proposition 103 settlement to date, Allstate Insurance Co. agreed Tuesday to rebate $110 million to California policyholders under the 1988 insurance rate rollback initiative. The 2.9 million refund checks, to be mailed within nine months, will average $66 for Allstate auto insurance customers and $25 for homeowner customers.
August 16, 1993 |
Safeco Corp. plans to pay $40 million to its California insurance customers in order to settle a four-year fight with state regulators. The payout was required under Proposition 103, a 1988 state ballot measure that required insurance rate reductions and some premium rebates. Since then, several companies have been arguing with California regulators over the amount of the rebate. A company spokeswoman said Seattle-based Safeco spent $2 million in outside legal fees on the fight.
June 26, 1993
Proposition 103 champion Harvey Rosenfield says he is leaving Voter Revolt, the organization that promoted the landmark 1988 ballot measure as a way to reduce auto insurance rates by 20%. Rosenfield said he will form a new group to fight the wars over putting Proposition 103 into effect and to contest a flood of insurers' requests for rate increases expected to come when a new law takes effect July 1.
May 13, 1993 |
In a rare split with Insurance Commissioner John Garamendi, Proposition 103 champion Harvey Rosenfield on Wednesday challenged Garamendi's handling of a recent settlement under the insurance rate rollback initiative, calling the deal too generous to the insurance company involved. Rosenfield's Voter Revolt organization asked for a hearing before an administrative law judge to review last month's agreement between the Insurance Department and San Mateo-based California Casualty Group.
March 26, 1993 |
State Insurance Commissioner John Garamendi on Thursday accused five life insurance companies of illegally refusing to do business with an agent who rebates part of his commissions to consumers. The action represents Garamendi's first attempt to enforce the law that made such discounting legal in California. Rebating became legal under one of the provisions of Proposition 103, the 1988 insurance rate rollback referendum.
March 2, 1993 |
Following his court defeat in a key Proposition 103 lawsuit, Insurance Commissioner John Garamendi says he plans to maintain a freeze on insurance rates while taking his fight to implement the 1988 premium-rollback initiative to the California Supreme Court. Garamendi and legal aides spent the weekend and Monday examining the 85-page decision Friday by Judge Dzintra I. Janavs of Los Angeles Superior Court in an effort to find the best avenue for appeal.