Some downward pressure on California auto insurance premium pricing can be expected as a result of State Farm's rate reduction announcement this week, according to an investment bank analysis
Earlier this week, State Farm received permission for an 8 percent average premium rate reduction.
That move came in the wake of an appeals court rejection of efforts by insurance organizations to secure an injunction to stop Insurance Commissioner John Garamendi's auto rate regulations that de-emphasize a driver's place of domicile as a rating factor from taking effect.
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