The New York City comptroller issued a report today calling auto insurance rates in the Big Apple "highway robbery" and called on Eliot Spitzer, the state's governor-elect, to take action.
Insurance trade groups reacted to Comptroller William C. Thompson Jr.'s report, "Highway Robbery: The High Cost of Automobile Insurance in New York," by suggesting that rates were high because of government logjams and overregulation. One called the report flawed.
According to Mr. Thompson's study, premium increases exceeded 40 percent in much of New York City for some major insurers.
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