The National Association of Mutual Insurance Companies (NAMIC) is speaking out against a plan by Wisconsin Gov. Jim Doyle to raise the amount of liability coverage drivers in the state need to carry.
NAMIC says low- and middle-income drivers in the state would bear the brunt of the governor’s proposal by paying higher insurance premiums. Specifically, the plan would raise the current liability limits of $25,000 for each person, $50,000 for each accident, and $10,000 for property damage per accident to $100,000, $300,000 and $25,000.
“The changes would translate to increases of 40% or more in auto insurance premiums,” says Mark Johnston, Midwest state affairs manager for NAMIC. “This would especially impact low- and middle-income families, since many of those with higher incomes already choose the higher coverage levels and, therefore, would not be impacted as severely."
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access