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Insurance Definition: PROPOSITION 103

By Compuquotes Team on March 27th, 2008

PROPOSITION 103:

Definition:

  • A November 1988 California ballot initiative that called for a statewide auto insurance rate rollback and for rates to be based more on driving records and less on geographical location. The initiative changed many aspects of the state's insurance system and was the subject of lawsuits for more than a decade.

Information provided by Insurance Information Institute

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