Yes On Prop 33 Gains Endorsement From Only Woman To Ever Serve As California Insurance Commissioner
SACRAMENTO, Calif., Nov. 5, 2012 /PRNewswire/ -- Two former California State Department of Insurance commissioners, including the state's only woman to hold that position, today voiced their support for Proposition 33, saying it will save California motorists on their auto insurance.
"Proposition 33 provides California consumers with a discount and consumer protections not available under current law," said Roxani Gillespi, former California Insurance Commissioner who served from 1986-1991. "It will save them money and give them more protection at the same time. That's why I am encouraging everyone to vote YES on Prop 33."
Echoing her support is Milo Pearson, the former California Deputy Insurance Commissioner for Rate Regulation.
"I strongly support Proposition 33 because history tells us the initiative will reduce the number of uninsured drivers and lowering rates," said Pearson, who said the number of uninsured drivers dropped by 50 percent when the state had Prop 33 laws on the books from 1996-2002.Pearson said Prop 33 maintains regulatory safeguards that will remain in place to keep a check on excessive auto insurance rates. Proposition 33 is supported by the Greenlining Institute, the number one consumer group in California because it provides options and protections for vulnerable Californians that don't presently exist. Proposition 33 allows drivers to switch insurance companies and keep their continuous coverage discount. This gives the consumer control and forces insurance companies to compete harder, lowering prices and insuring more Californians. In addition to state insurance officials, Prop 33 has attracted a wide range of other support, including from California law enforcement, firefighters, major veterans' groups, leaders of both political parties, ethnic organizations and chambers of commerce. Supporters are drawn to the fact that Prop 33:
- Lowers auto insurance rates
- Means more insured drivers and safer streets.
- Restores consumer choice.
- Preserves state regulatory oversight of rates.
- Protects military personnel and others whose policies have lapsed due to unemployment, illness or other factors.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts