Home › News ›

PAYD FAIL

Posted by: Alek Miller

21 October 2009 - 7:00am

California has finally begun to encourage insurance companies to offer "pay as you drive" (PAYD) insurance policies. The Natural Resources Defense Council says it's a half baked policy.

"One might think that a state with a green reputation such as California would be a leader in bringing PAYD policies to its car drivers. However, the new rules have come under fire from environmentalists who say the rules don't go far enough to bring about the changes that California's more green-minded drivers need.

Justin Horner, a policy analyst for the National Resources Defense Council, said in a release today, 'Our auto insurance policies are sorely behind the times. No one should be fooled. The new regulations proposed today cannot be characterized as green. They are nowhere close to what is needed to help the environment or reduce global warming pollution.'"

Full Story: Much Ado About Nothing? New State Rules for "Pay-As-You-Drive" Insurance
Source: Streetsblog Los Angeles, October 19, 2009
»
Bookmark and Share
“
Even if the report overestimates the costs by a factor of two and underestimates the tax-benefit by a similar amount, the conclusion would be pretty much the same: destination resorts cost local government and taxpayers money.
”