Report: Rhode Island Drivers Could Pay Highest in Nation Auto Insurance Premiums If Legislation Banning Aftermarket Parts is Allowed to Pass
After a morning that tested the business knowledge of students across
"We had an amazing morning as students across the Treasure State participated in the second ever Challenge Bowl," said
The Challenge Bowl is an opportunity for the top 16 teams from the spring and fall semester of the High School Business Challenge (HSBC) to go head-to-head and win scholarship money. The
Scholarships are awarded to all participants in the Challenge Bowl. First place team members receive
Here are the full results and final stock prices from the second ever Challenge Bowl (Some schools had multiple teams participating):
Heritage Christian - Team 8 -
Billings Skyview -
Anaconda - Team 10 -
Anaconda - Team 11 -
Anaconda - Team 12 -
Anaconda - Team 9 -
Billings Central -
Poplar - Team 15 -
The
"More than a decade of special interest bills promoted by the
Decade Plus of ABARI-Supported Legislation Continues to Take Its Toll on Rhode Island Auto Repair Costs and Auto Insurance Premiums
PCI's research brief finds that the collective impact of 20 auto body shop bills passed since 2003, all of which limit the ability of auto insurers to provide "checks and balances" in the claims process, is
Rising Auto Body Repair Labor Costs
https://www.pciaa.net/pciwebsite/Common/c/Image/6f03c03d50107d64/RI%20Auto%20Image.PNG
From 2006 to 2017, average auto body repair labor rates in
Rising Insurance Costs
https://www.pciaa.net/pciwebsite/Common/c/Image/6f03c03d50107d64/RI%20Auto%20Image2.PNG
Over the past 5 years, the average claim rose from
The average claim in
Rising claim costs may ultimately impact consumers' wallets in the form of higher insurance premiums.
Estimated Impact of Legislation Banning Aftermarket Parts Use on Rhode Island Personal Auto Insurance Premiums
PCI's research brief also estimates the impact of House Bill 8013 and Senate Bill 2679, which would effectively ban the use of high quality, reliable aftermarket parts (AMP) and force consumers to use higher priced original equipment manufacturer' parts (OEM). On average, AMPs are 23.3% to 29.9% cheaper than OEM parts.
Aftermarket parts provide a
PCI estimates this could drive the cost of repair parts up by 10.8% and overall repair costs by 5.2%. This in turn could drive premium increases, resulting in
Libby -
Poplar - Team 14 -
Heritage Christian - Team 7 -
The High School Business Challenge would like to the thank the instructors who led their teams in the Challenge Bowl this year which included:
The High School Business Challenge fulfills a core objective of Envision 2026 , the 10-year strategic plan of the Montana Chamber - namely youth entrepreneurship. The
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