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Philadelphia Mayor Turns Auto-Insurance Rates into Campaign Issue.
Knight Ridder/Tribune Business News, August, 2003
By Thomas Fitzgerald, The Philadelphia In...uirer Knight Ridder/Tribune Business News
Aug. 20--At a time when Mayor Street hopes to stoke anger over Philadelphia's high auto-insurance rates, Republican challenger Sam Katz faces a politically inconvenient fact: He is on the board of directors of an insurer that writes thousands of auto policies in the city.
And that company is currently asking state regulators to increase rates for all of the 818,000 drivers it covers in Pennsylvania.
Katz has served for three years on the board of Erie Indemnity Co., the parent company of two firms that cover about 14,700 drivers in Philadelphia. In a recent filing with the U.S. Securities and Exchange Commission, Erie said that it enjoys robust fiscal...
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