The Montreal Economic Institute, an independent think tank, concluded that price controls on auto insurance send “anti-market signals” that reduce consumer choice and undermine long-term affordability. The organization found that when premiums cannot reflect real-time risk and costs, insurers often respond by restricting coverage, tightening underwriting, or leaving the market.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.