Auto insurance companies say proposed reforms would cost consumers

A group of Michigan insurance companies responded today to proposed auto insurance reforms from House Democrats, calling them a political "scheme"... “This state cannot afford the political solutions to economic issues that the Democrat leadership continues to offer,” said Tom Shields, spokesperson for the Michigan Insurance Coalition. “Every piece of insurance legislation they have proposed over the past year would cost consumers more, create a bonanza for trial lawyers or provide a climate in Michigan that will drive insurance companies and their jobs to other states.”

Under the proposal, the state auto insurance commissioner would have the power to veto rate increases. It would also prevent insurance companies from basing its rates on factors such as credit scores, occupation and education...

MLive: Auto insurance companies say proposed reforms would cost consumers more