Automobile Insurance Fund may be lower commissions
The Board of Directors of the Maryland Automobile Insurance Fund unanimously approved a reduction of 20 percent on commissions paid to individuals and real estate agencies, sell, the policy of the State, the last resort.
An economic movement, the action would save about $ 30 on average $ 1500 annual premium paid by 102000 high-risk drivers insured by state companies, Vincent H. Howley, the Fund executive director, said last week.
Commissions would be cut by 10 percent to 8 percent effective October 1, if the action is in the Maryland insurance commissioner, said Howley.
The 11-member Board of Directors has taken the initiative to maintain insurance costs
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