The $1.7 billion is what the law sets as the insurance companies' share of a $3.3 billion deficit in the state's fund for insuring high-risk drivers.
Under Proposition 103, insurers are required by law to insure such drivers.
His bank lends money to Mexico's richest companies, insure drivers and offer pensions to the working class.
These policies insure drivers on any vehicle they drive, even if it belongs to someone else.
Insured drivers are members of the exchange and basically "owners" of the company.
About half the state's nearly five million motorists were forced into an pool designed to insure only drivers with bad records.
Until last year, the pool had insured drivers whom private companies saw as poor risks.
The association was set up in 1984 to insure high-risk drivers and others who could not buy insurance from commercial carriers.
Progressive can insure high-risk drivers profitably because of its talent for measuring risks and setting premiums.
The association, which was created to insure drivers who could not purchase coverage in the voluntary market, was abolished by the new insurance act.
