LOS ANGELES, Calif., Aug. 1, 2012 /PRNewswire/ -- The Asian Business Association and the Chinese Chamber of Commerce of Los Angeles both announced their endorsement of Proposition 33 today. Proposition 33 is an initiative on the November ballot that will give consumers, rather than insurance companies, control of their continuous coverage auto insurance discount, increase competition, lower prices and insures more Californians.
"We want all of our members to be insured and unlike earlier efforts, Proposition 33 will help those who need help the most. Under the present system, this discount already exists but it is controlled by the insurance companies. Under the present system, consumers lose the discount if they miss a payment. Proposition 33 has crucial consumer protections," said Asian Business Association Executive Director Dennis Huang. "In this economy, Proposition 33 will give power to the consumer allowing them to shop their continuous coverage discount to any insurance company they choose. Proposition 33 will foster more competition, and lower prices. It's a win-win for consumers, businesses, and the economy."
Proposition 33 provides increased competition for those who are presently insured and reaches out to those who do not have insurance.
- Military personnel receive the discount.
- Individuals who have lost their job for a period of up to 18 months also qualify for the discount; as do those who lapse coverage for 90 days for any reason.
- Children living with their parent(s) will receive the same discount available to their parent(s).
- Consumers will get a discount for each year they were insured in the previous five years. For example, if you had four years of insurance you will get 80 percent of the discount. Unlike the present system, more people are protected.
About the Asian Business Association: The Asian Business Association is a non-profit membership based organization that has been proactively assisting Asian American small businesses to gain access to economic opportunities and advancement for over a quarter of a century.
About the Chinese Chamber of Commerce of Los Angeles: The Chinese Chamber of Commerce of Los Angeles is committed to ensuring that the interests of this important business segment are sufficiently addressed and properly acknowledged in the public square. Furthermore, it is the commitment of this organization to celebrate the rich heritage and cultural roots of where this business community comes from.
SOURCE Yes on Prop 33