Automobile Insurance: Hearings Before the Subcommittee on Commerce, Consumer Protection, and Competitiveness of the Committee on Energy and Commerce, House of Representatives, One Hundredth Congress, Second Session, April 14, June 16 and October 7, 1988, Parte 2U.S. Government Printing Office, 1988 - 348 páginas |
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accidents antitrust Assigned Risk Assigned Risk Plan auto insurance Auto Plan automobile insurance average BATES Chairman CLAIMS COSTS CONGRESS THE LIBRARY Consumer Protection coverage CROSBY drivers insured effect expenses Farmers Insurance Group Federal Florida FLORIO fraud GEICO going Group Harvey Rosenfield hazard Honorable Norman F industry's initiative injury insolvency Insurance Commissioner insurance companies insurance industry insurance market insurance rates involuntary market Jersey laws lawsuits legislature Lent LIBRA LIBRARY OF CONGRES LIBRARY OF CONGRESS loss prevention MacCollum Maryland McCarran-Ferguson McCarran-Ferguson Act million motorists National no-fault November number of drivers percent policyholders PREMIUM RATES problems profits programs Prop property/casualty insurance Proposition 103 Protection and Competitiveness Ralph Nader rate increases rate reduction rate rollback reducing the number reform regulation reinsurance RESS THE LIBRARY safety SNYDER Subcommittee on Commerce surance surplus Thank there's underwriting uninsured USAA voluntary vote Voter Revolt Washington write York
Passagens conhecidas
Página 23 - Frequently numerous consumers are exposed to the same dubious practice by the same seller so that proof of the prevalence of the practice as to one consumer would provide proof for all. Individual actions by each of the defrauded consumers is often impracticable because the amount of individual recovery would be insufficient to justify bringing a separate action; thus an unscrupulous seller retains the benefits of its wrongful conduct. A class action by consumers produces several salutary byproducts,...
Página 110 - The hard-to-place [driver] problem is an integral part of the competitive functioning of the automobile insurance industry. It is a by-product of underwriting competition. Despite a complex objective rating scheme, insurers do not find it profitable to grant coverage to all applicants. Even within the most highly developed rating classification there are still some drivers who have distinctly higher than average loss potential. Insofar as the rating system fails to account for these differences,...
Página 33 - Aviation of the Senate Comm. on Commerce/ Science/ and Transportation, 99th Cong., 1st Sess.
Página 111 - ... for insurers to increase their profits through selective underwriting. The result of this is that some applicants are rejected. This residual group of rejected drivers is likely to become larger as competition becomes more intense. The more insurers' profit margins are under pressure, whether for competitive or regulatory reasons, the greater their efforts to sort out applicants with higher than average loss potential. Cancellations and refusals to renew are manifestations of these efforts.
Página 22 - ... minimum disclosure standards for surplus lines and reinsurers operating in the United States and encourage states to set state-specific or stricter disclosure standards if they so choose. 2. Congress Should Create Alternative Reinsurance Programs. During cycle bottoms, reinsurance is often more difficult to find than primary insurance, particularly when reinsurers refuse to cover certain risks. And sharp rate increases by reinsurers may force insurers to drop additional risks to satisfy state...
Página 15 - ... filed.6 The average annual growth rate in average compensation paid per liability claim over the past five years has been about 12 percent for auto claims and 17 percent for other tort claims — considerably higher than the 7 percent average growth in the Consumer Price Index during the same years. The average growth rate in insured defendants' average legal fees and expenses paid per liability claim over the past five years has been about 6 percent for auto and 15 percent for other tort claims....
Página 110 - Insurance Accessibility for the hard-to-place driver" study issued in May 1970, in its summary, had this to say : "The hard-to-place problem" — that is dealing with the motorist who cannot obtain insurance in the regular marketplace with your company, for example — "is an integral part of competitive functioning of the automobile insurance industry. It is a by-product of underwriting competition.
Página 113 - I would greatly appreciate it if you would answer the following questions for submission to the hearing record.
Página 27 - Orient on the condition that the insurer adopted certain safety precautions, such as lifeboats. In 1894, the insurance industry established Underwriters Laboratories for issuing seals of approval for fire-prone electrical devices and connectors. During the nascent development of elevators and boilers, insurers led the way in insisting on safety standards and equipment improvements, such as with elevator cables and boiler monitoring.