John Garamendi: “When my colleague from California was attorney general, I was insurance commissioner, and we had a grand fight over this…”

“When my colleague from California was attorney general, I was insurance commissioner, and we had a grand fight over this very issue, the very issue of whether the State of California would allow the insurance companies to continue to use rating bureaus to get their price information and to continue to set prices in what could be a collusion. We put that aside. The regulations that I put into effect were adopted, and the end result was, when they could no longer use a rating bureau, which this proposal would allow, the prices began to drop in homeowners and auto insurance in California.”