Groups accuse State Insurance Commissioners of being asleep at the wheel as insurers profit from reduced driving. Demand ongoing premium rebates.
The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) took state Insurance Commissioners to task for failing to prevent what it calls “windfall auto insurer profits”as auto claims dropped when driving and auto crashes declined. In a letter, the groups labeled the excuses of some regulators for failing to protect consumers as “pathetic.”
“The facts make clear that the inaction by most state Insurance Commissioners to assure refunds are adequate has lined the auto