Incredible! With two weeks until Election Day, the insurance billionaire behind Prop 33 finally admitted his auto insurance initiative will raise rates on new customers.
When the billionaire writing the $16 million check for Prop 33 speaks about his initiative raising auto insurance rates, voters should listen. But will voters hear Prop 33’s financier over the deceptive television advertising he has bought claiming only that Prop 33 will “reward responsible drivers”?
You can help us get out the word by posting the link to Sunday’s LA Times column (http://lat.ms/TCDqH4) on your Facebook timeline, tweeting it or sharing it with your friends from the newspaper’s site.
In Sunday’s Los Angeles Times, Joseph acknowledged that Prop 33 is a marketing strategy for his insurance company that will allow him to cherry pick his customers "if I could charge new people the proper rate."
As Hiltzik reports, “He made no bones about the fact that the ‘proper rate’ for customers coming to Mercury as newly insured policyholders is much higher than what he can charge them now."
Voters banned the power of insurance companies to raise rates on first time drivers and others who did not previously have auto insurance in 1988. Prop 33 would turn back the clock on auto insurance regulation in this state.
Joseph said that if Prop 33 doesn’t pass it will be “a tremendous waste of money.” Better his than ours! Please share this critical news story today.
10/3/2012Blog PostIn response to our Consumer Alert exposing the Prop 33 campaign for using paid campaign employees in their TV ads, the insurance... More >
9/5/2012FeatureInternal reports prepared by California Department of Insurance (CDI) investigators show that Mercury Insurance Company used a... More >
11/1/2012Blog PostJim Crow Insurance: CA Proposition 33 Turns Back The Clock To Price Discrimination In Auto InsuranceRevelations of discrimination by insurance companies are always shocking, but when they come out just days before a vote on an... More >
10/10/2012News ReleaseMercury Hikes Auto Insurance Rates in California By $63 Million, More Proof that Prop 33’s Promises of Discounts Are False Say Consumer AdvocatesSanta Monica, CA – Mercury General is raising auto insurance rates by $63 million on its customers, an average 4% rate hike... More >
10/12/2012News ReleaseSanta Monica, CA -- Consumer Watchdog, Consumers Union, the nonprofit publisher of Consumer Reports, and Consumer Federation of... More >