March 31, 2001 — Good and bad drivers in the territory may soon find themselves paying a little less or a little more the next time they renew their compulsory automobile insurance.
Thirteen months after the mandatory automobile-insurance law began, Lt. Gov. Gerard Luz James II, who also acts as the insurance commissioner, told the V.I. Insurance Association that he is drafting guidelines that would provide discount points and incentives for good drivers.The plan would also establish surcharges for high-risk drivers.
While James didn’t disclose the amounts drivers may or may not pay, he did say that his office will finalize the plan in the next few weeks and circulate it to insurance companies for comment.
James noted that the compulsory insurance law contains some "inadequacies," particularly when it comes to uninsured drivers. That problem, however, must be addressed by the commissioner of police, he said.
"As the implementation and enforcement of the compulsory automobile-liability law continues to evolve, my office will closely monitor it with a view towards amending the law if necessary, cure any deficiencies and draft rules and regulations for effectuating its provisions," James said.
