If you haven’t already guessed that the Insurance Institute for Highway Safety has nothing to do with highway safety and everything to do with keeping auto insurance a highly profitable business for its members, the latest lies and deception emanating from that organization should convince you.
They’re once again trying to get you to believe that repealing the worthless and universally hated “National 55 mile per hour speed limit” back in the 1990s has resulted in a blood bath on the highways. It.is.a.big.lie.
If you are at all tempted to believe the Big Lie, I implore you to read this: History Repeating Itself: NMA E-Newsletter #381.
Reinstituting the 55 MPH speed limit would be profitable for auto insurance companies because it would result in nuisance speeding tickets to drivers who do not pose any sort of danger to anyone. These citations not only saddle drivers with undeserved speeding fines, they increase insurance rates for drivers that do not represent a commensurate insurance risk. To an insurance executive, that’s good work if you can get it.
The most profitable lines of insurance are those that allow the insurance company to set premiums at a level higher than necessary to cover the risk. Nothing does that like an artificially low speed limit that many drivers will routinely violate giving the insurance company the perfect flimsy excuse to raise your insurance rates.
But please read the NMA newsletter for a better explanation of what is really going on with the latest attempt by IIHS to pick your pockets.