Florio presented the plan to reduce auto insurance costs about 20%
Direction: transfer of debt for the high cost of automobile insurance in the insurance sector, Dir Jim Florio today proposed a drastic change in the way auto insurance in New Jersey with his adviser a said plan to decrease, until the driver to pay $ 860 per year, from $ 1112 within one year.
Laying the debt high cost of automobile insurance in the insurance sector, Dir Jim Florio today proposed a drastic change in the way auto insurance in New Jersey with his adviser said a plan of reduce what the driver to pay up to $ 860 per year, $ 1112 within one year.
The governor’s plan is to head confrontation with a seemingly intractable problem, and powerful business groups, including the insurance sector.
At the heart of the plan is the elimination of the Joint Underwriting Association, an organization of the State created in 1983 to ensure high-risk driver. The organization now provides 40 percent of drivers and the state owe a debt of $ 3 billion.
Mr. Florio plan, taxes and assessments of $ 1.4 billion for insurance to reduce the debt of the association. It would also eliminate $ 212 per year, that all drivers in the state, Pay support the club.
Speaking to a special joint meeting of the legislature in its sixth day within the Office, Mr. Florio also proposed that drivers can choose health insurance rather than motor insurance for the protection of injuries in car accident, a step, “said the governor would cut costs.
The plan would also eliminate some companies use criteria for the auto insurance premiums, such as age, sex and place of residence. Instead, would be based on what Mr. Florio these criteria, as the conduct of motorists.
New Jersey is one of the highest automobile insurance rates in the nation, and the increase in premiums has vexed politicians here, as in other state capitals for years. In a promising reduction of 20 per cent, Mr. Florio the same objective as the initiative of the voters of California in 1988. Courts have blocked the measure.
”I will not allow organized a rip-off, the driver of New Jersey,’’said Florio. ”I am not saying that I did not say that the faces of insurance executives and representatives of all other interests, to take advantage of the current system. I made it clear that if they impede the man, they lose.”
According to the Governor’s Office, an average driver pays $ 1112 per year, including payments to the association to stay afloat. The average premium in New Jersey is higher than what most motorists pay in New York and Connecticut.
Mr. Florio’s plan, the official said that costs up to $ 860 per year, within one year after its strength. The decline would be the elimination of $ 212 for payments for the club and the arrivals of some drivers of his injury relocation of their coverage of health insurance, a savings of $ 40 per year.
The governor’s proposal, told his advisers should be entitled to science in 60 to 90 days was met with the general consent of the Democrats control both houses of the legislature, said the rapid move seemed likely.
But Republicans and some representatives of the insurance industry said they were deeply concerned by some elements of the plan. She suggested that Mr. Florio travel was for business, the elderly and health insurers. Critics have also suggested that a tax heavily insurance companies, the wind in the courts.
”I feel it has been said, we thirst for profit,’’said Ronald Krauss, spokesman for the American Insurance Association in Washington, which represents 220 companies. Mr. Krauss added that auto insurance was not very profitable in the affairs of state.
”There are many cost-Shifting happens in this plan, Sir,’’said Krauss. It would be in”kurzfristig During premiums, we, whether the cost base of auto insurance and avoid the higher costs in the future.”
Tables for professional agents
At the heart of the exhibition, this is not Fehler””Versicherungssystem with its headquarters in 1973, which, unlike the others, but in addition to laws in other countries, obtain the right of motorists to complain when Accidents caused as little as $ 200 in health Costs. The results were a sharp increase in litigation and the price of insurance.
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