In the News Report: Prop 103 has saved California drivers $154 billion
A 2015 report from the R Street Institute said California’s current insurance system discourages competition because it’s slower, less predictable and more punitive than other states. Lengthy review cycles tend to mean that California consumers are slow to receive new products, the study said, even though the state’s market — as the nation’s largest and most diverse — should make it among the first.
