A California consumer group is sounding an alarm over initial moves for a referendum it labels an insurance industry attempt to gut provisions of the historic ballot initiative that now controls the industry.
The Foundation for Taxpayer and Consumer Rights (FTCR) said Thursday that the insurance industry had "quietly introduced" three ballot initiatives that would undo many of the consumer protection provisions of the state's 1988 voter approved insurance reform, Proposition 103.
"Proposition 103 has blocked over $20 billion in rate increases in auto, home and business insurance, forced insurance companies to refund $1.2 billion to Californians, stopped unfair surcharges, and reduced the number of uninsured motorists," said Harvey Rosenfield, the author of Proposition 103 and the founder of the FTCR.
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