INSURANCE
Associated Press
A state law reducing the refunds that auto and homeowners’ insurance customers were supposed to collect under a 1988 initiative has been overturned. The state Supreme Court unanimously denied review of an appeal by insurance brokers of a 2nd District Court of Appeal ruling that found the law violated Proposition 103. The law reduced those refunds by the amounts insurance companies paid in 1988-89 for brokers’ commissions, brokerage expenses and taxes on the premiums to be refunded.
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