Governor Mitt Romney has started to make good on his promise to get a move to overhaul the Auto Insurance industry in his home state. His move gets the vote of confidence by his constituents who hail it as a well timed helping hand for the messy auto insurance industry. The changes aim to get insurance firms an equal spread of the good the bad and ugly of drivers, getting all to share the burden of the various risk-levels drivers are categorized into. This has been a sour lemon for many auto insurance firms have the right to deny people who have poor standing with respect to their driving records. The Insurance companies also use their own evaluation standards which can have a moderate-risk driver classified as a high-risk one in another firm. The standardization is aimed to level the playing field and getting everybody an equal share of the market. The move is sure to rock more carriers who have been struck heavy by the financial crisis due to ties in the sub-prime credit problems that now has effects circling the globe.
Jun
10