Mandating Annual Federal Report on Auto Insurance Costs Reduction.
This law requires the Federal Insurance Office (FIO) to submit an annual report on the automobile insurance industry to Congress and the President. The primary goal of this report is to provide specific legislative recommendations aimed at lowering the cost of auto insurance for consumers. While the act itself does not change current insurance rates, it establishes a mechanism for federal study and future action intended to reduce citizens' vehicle insurance expenses.
Key points
Requires the Federal Insurance Office (FIO) to produce an annual report on the state of the automobile insurance industry.
The report must include specific legislative recommendations on how to lower auto insurance rates for drivers.
This measure aims to provide data and proposals to Congress for potential future laws that could reduce consumer costs.
Expired
Citizen Poll