The state of Colorado has seen a double-digit drop in auto liability premium costs since repealing its no-fault insurance law and establishing a tort system in 2003, according to a new study.
Injury claim costs dropped immediately after repeal, according to the report by the Insurance Research Council.
Between 2002 and 2004, the IRC study said, average liability premium costs dropped from $559 to $476, a 15 percent difference. The study noted that nationwide, this number increased 9 percent over the same time period.
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