PCI Opposes HB 80; Could Lead to Higher Costs for Delaware Consumers

CHICAGO - Today the Delaware House Insurance Committee is scheduled to hear HB 80, which adds unnecessary regulations that could lead to higher automobile insurance costs for many consumers. The Property Casualty Insurers Association of America opposes the bill and the following statement can be attributed to regarding PCI’s Director, Personal Lines Policy Alex Hageli.

“When purchasing insurance coverage, consumers want a fair price that relates to the likelihood they will have an accident or file a claim. However, the restrictions contained in HB 80 would eliminate many of the tools insurers use to help ensure consumers get the best rates possible.

“This bill could strip away discounts and put an end to affiliation programs for military service members and teachers that help consumer pay less for insurance.

“When insurers can properly underwrite risks, consumers benefit with lower rates, more choices and greater market stability. This is why nearly all state insurance departments across the country have approved the use of the factors that HB 80 would eliminate or severely restrict. 

“With new unnecessary regulation that could lead to higher costs for many consumers, HB 80 is going in the wrong direction.”