X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
“Insurance companies are hanging on to billions of drivers’ dollars that should be helping Californians get back on their feet as we emerge from the pandemic. The Insurance Commissioner must require companies to refund past overcharges in full, with interest, and make sure rates are not excessive going forward,” said Carmen Balber, executive director of Consumer Watchdog, in a release. (Photo: QuoteInspector.com)

Despite a dramatic driving slump and insurance premiums refunds issued during the early months of the COVID-19 pandemic in 2020, California auto insurance companies continued to charge pre-pandemic rates to the state’s drivers, a Consumer Watchdog analysis found.

The analysis concluded that insurers inadequately reduced rates accordingly with decreased accident claims, resulting in carriers overcharging California motorists by about $5.5 billion last year.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

More from this author

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.