ICLE on the Cost of Prop 103

ICLE research on the cost of California’s Proposition 103 insurance regulatory system was cited in a story in Insurance Business about calls to change the law. You can read the full piece here.

The legislation required insurers to get the Insurance Commissioner’s approval before implementing insurance rates – The International Center for Law and Economics has calculated that prop.103 has cost Californians $25 billion – despite Consumer Watchdog’s claims to the contrary.