Agents Say Consumers Have More Attractive Auto Options.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 26, 2001 Agents and brokers will weigh in this week on the state's new low-cost auto insurance program at hearings held by the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state , reporting that while some have received calls from consumers, few are interested in purchasing the low-cost policies. "Few of these consumers are eligible for the product, and the few that are usually choose to purchase another product that provides better coverage for about the same price," said IBA IBA abbr. International Bar Association IBA (in Britain) Independent Broadcasting Authority IBA n abbr (Brit) (= Independent Broadcasting Authority West President Elect Joe Hernandez Jose M. Hernandez (born February 9, 1940 in Bakersfield, California) was an American football wide receiver in the National Football League for the Washington Redskins. He played college football for the University of Arizona. , who will testify on behalf of IBA West at a June 28 Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. hearing. Hernandez, Vice President of Hamman-Miller-Beauchamp-Deeble, Inc. in Long Beach, said supporters of the low-cost auto insurance program are blaming agents and brokers for the program's rejection in the marketplace, accusing them of refusing to sell the policy to low-income drivers. "While some insurers charge unaffordable un·af·ford·a·ble adj. Too expensive: medical care that has become unaffordable for many. un prices in some areas, we usually can find a price-competitive product for any applicant," Hernandez said. "Selling a better consumer product also addresses serious liability concerns. The low-cost policy is low-cost not because it actually reduces expenses, but because it drops coverage to levels which are lower than the minimum level required of all other drivers and contains a confusing array of exceptions. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , the consumer is best served by a full-coverage policy with no exceptions, especially since it is only a few dollars more in most cases." Testifying at a June 26 hearing in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Jerry Miller Jerry Miller (born July 10, 1943 in Tacoma, Washington) is an American musician, a guitarist and vocalist who was a member of the 1960s San Francisco band Moby Grape. Before joining the group, Miller and bandmate Don Stevenson were members of The Frantics, a Pacific Northwest bar , Miller Robertson Insurance Services, Novato, explained that many agents and brokers feel they are buying a lawsuit when they sell the low-cost policies and while some of the bills supporters claim agents and brokers are immune from liability, no such immunity was contained in the bill. "The low-cost auto insurance program can be improved by providing a better consumer product with more coverage and fewer exceptions," Miller said. "In addition, insurance agents and brokers should be provided with full immunity for selling this statutorily created product." The Insurance Brokers and Agents of the West (IBA West) is the nation's largest regional trade association representing insurance brokers and independent insurance agents in the West. Today IBA West represents 1,500 firms in California, Alaska, Hawaii, Oregon and Washington employing more than 15,000 insurance professionals. For more information on IBA West, visit our web site at www.ibawest.com |
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