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Article #1740

Re: No Fault Insurance Never Goes Away

#1740
From: Sean Garrett
Date: Wed, 21 Feb 1996 00:00
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Under Proposition 200 � the pure no-fault initiative - on the March
ballot, the Rand Corporation estimates that your rates will go down by 25
to 35 percent.  How?  Easy.  When you take the lawyers, uninsured
motorists, and fraud out of the system, you take $6 billion out of the
what the insurance industry charges us.  And, under Prop 103, the
insurance industry's profits are regulated, so with a $6 billion drop in
costs, rates will have to come down.

As far as rates going up in other states, that is only because those
states had MODIFIED no-fault, not PURE no-fault.  That means they had
thresholds for whem you can sue.  Obviously, if you have a $2,000
threshold for medical costs, people are going to find a way to be sure
that they have $2,000 in costs, so they can sue.
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From: pbngarrett@aol.com (Sean Garrett)
Subject: Re: No Fault Insurance Never Goes Away
Date: 1996/02/21
Message-ID: <pbngarrett-2002961631050001@l68.ip.quake.net>
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references: <msadamsDMupqu.374@netcom.com> <4g7t2m$1bc@cloner4.netcom.com> <mcaldon-1902961327260001@la-dial1-18.wavenet.com>
organization: PBN
newsgroups: la.general,ca.politics,ba.politics,ca.driving