Auto Insurance Reform Simplified for Customers– with New Member Resource
By now, you’ve likely heard the news: the State Legislature has passed sweeping auto insurance reforms aimed at addressing fraud and excessive litigation.
As these developments continue to receive widespread media attention, consumers naturally want to know what the reforms mean for their auto insurance premiums and when they may see an impact.
Given the rising cost of auto insurance, that is both a fair and important question. While many media reports highlight that the reforms are intended to lower rates, the reality is more nuanced and may not produce immediate results.
It is important to understand that the legislation does not mandate premium reductions. Rather, the goal of the reform package is to reduce claims costs driven by fraud and litigation. Over time, those savings are expected to help stabilize rates and, ultimately, provide relief for consumers.
To help explain the reforms and their intended impact, Big I New York has created a consumer communication resource that you can use to support conversations with customers or share directly with clients who have questions about the changes.
Please note: You must be logged in to view and access this resource.
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