The Michigan Board of Canvassers approved language for a ballot referendum that would lower car insurance rates in the state for good drivers and prohibit insurance companies from unjustifiably dropping customers from their rolls.
This is only the first step to getting on the ballot. Now the group advocating the proposal, a coalition called Fair and Accountable Insurance Rates, has to collect 304,000 valid voter signatures to get approval for a vote in November 2010.
You can bet that if this gets on the ballot next year, the insurance companies will pull out all the stops to keep it from being approved. That might still be a difficult thing to achieve and the Detroit News cites an industry rep saying it would be “tough to fight” such a referendum.
If you’re going to put a 20 percent cut in insurance rates on the ballot, it’s difficult to imagine a majority of the people voting against it.