The Need to Reform Auto Insurance

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Recent headlines regarding billions of dollars in profits for the insurance industry have confirmed what we have known for some time: the industry is viable and the dramatic erosion of the rights of innocent accident victims has translated into huge profits for insurance companies. It should be clear to anyone who has followed the auto insurance debate over the last 5 years that when the insurance industry cried "poor", they were really crying "wolf". The reforms introduced as of October 1, 2003 (including a harsh definition of the verbal threshold and an increase in the deductible) were motivated by politics and sparked by threats from the insurance industry. It is clear that the changes which further eroded the rights of innocent accident victims were not necessary to maintain a viable insurance industry. Publicity about insurers’ good fortune has focussed almost exclusively on premiums. While premiums are vitally important to all (particularly as a hot political issue), ...

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