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Revamping Auto Insurance

Massachusetts is the only state in the nation where auto insurance companies don't decide their own premiums. Instead, the state's insurance commissioner sets the rates under a fixed price system.

But Gov. Mitt Romney wants to change that. Last month, he proposed legislation that would bring Massachusetts in line with other states. According to Romney, the plan would increase competition and lower premiums for drivers who are now paying some of the highest auto insurance rates in the nation.

This program aired on July 25, 2005. The audio for this program is not available.

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