Insurance and Autonomous Vehicles in California: How Prop 103 discourages individual ownership

Proposition 103, approved by California Voters in 1988, created an elected insurance commissioner and mandated a rate setting process to protect consumers. It also required an immediate 20% reduction in auto insurance rates and set forth the criteria that can be used to set future auto insurance premiums as follows: (a) Rates and premiums for an … Continue reading Insurance and Autonomous Vehicles in California: How Prop 103 discourages individual ownership