Establishes the "automobile insurance consumer information act" to improve disclosure and consumer information on auto insurance rates and quality of.
The bill enacts the "automobile insurance consumer information act," which aims to enhance transparency and consumer information in the auto insurance market. It mandates the creation of a database by the superintendent of financial services, containing rate information and complaint rankings for all auto insurance companies operating in the state. The database will help consumers compare rates and quality of service among insurers.
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