Insurer Practices/Profits

Groups Urge Insurance Commissioners to Require a Second Round of Premium Relief

Consumer Federation of America and the Center for Economic Justice sent a letter to state Insurance Commissioners detailing how auto crashes remain well below normal because of the COVID-19 pandemic and how consumers need additional auto insurance premium relief. Information from four states shows a massive decline of over 181,000 crashes this year while insurers are making huge profits. The groups conclude by urging Commissioners to require a second round of premium relief to ensure insurance rates are not excessive.