The only insurer to drop its resistance to the California insurance commissioner's directive to limit the use of geographic location to set auto policyholders' rates said it did so because of a good loss experience.
Alice Bisno, vice president of government affairs for the Automobile Club of Southern California, offered little detail on the company's decision to break ranks with the state's other auto carriers, who have threatened to fight the regulatory change in court.
“We can do it and it is in the best interests of our customers,” said Ms. Bisno. She credited policyholders' responsible claims as a major reason that 88 percent of Automobile Club policyholders are seeing either stable or decreasing policy rates.
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