AUTOMOBILE owners will benefit from the rate war beginning among auto liability insurers. Irked at the big inroads made in their business by such rate-cutting independents as the Allstate Insurance Co. and the Farm Bureau Mutual Automobile Insurance Co. which offer discounts up to 20% on some risks, two big industry groups are ready to cut rates themselves. The plan, already approved by the National Bureau of Casualty Underwriters and the Mutual Insurance Rating Bureau, which together represent more than 200 mutual and stock companies, calls for reclassification of drivers so that the...
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