For almost 29 years, California insurers have uttered the phrase"Proposition 103" like a curse.
The 1988 voter-approvedinitiative forced insurance companies to roll backhome and auto rates by 20 percent and to obtain the approval of anelected commissioner before increasing them.
It also required insurers to set car policy rates basedprimarily on three factors: a driver's safety record, his or heryears of experience behind the wheel and the number of miles drivenannually.
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Cheryl Miller
Cheryl Miller, based in Sacramento, covers the state legislature and emerging industries, including autonomous vehicles and marijuana. She authors the weekly cannabis newsletter Higher Law. Contact her at [email protected]. On Twitter: @CapitalAccounts
