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Consumer group pushes for rate reg on ballot
California insurers may have another fight on their hands as Consumer Watchdog is trying to revive the rate regulation discussion. The consumer advocacy group is attempting to get an initiative known as the Insurance Rate Public Justification and Accountability Act on the November ballot by obtaining about 500,000 California voters' signatures, reported the Sacramento Bee. The measure would require insurers to publicly justify their proposed rate increases and authorize the state insurance commissioner to reject any rate hikes deemed excessive.
"Voters are both anxious and angry, not only about the costs of both insurance and care, but because they don't understand why costs are so high," said Consumer Watchdog President Jamie Court. Consumer Watchdog previously tried to get a bill that would have implemented the rate regulation passed in the state legislature, but it stalled in the Senate. Article
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