The State - News from May 3, 1988

The circulators of one proposed auto insurance rate reduction ballot initiative rolled an armored truck up to the steps of the state Capitol with a load of petitions they said contained 663,275 signatures to qualify their measure for the November ballot. But the initiative’s sponsors, Assemblyman Richard Polanco (D-Los Angeles) and Coastal Insurance Co. chief executive Harry Miller, said they will not submit them until May 12, in hopes a deal can be worked out with the California Trial Lawyers Assn. for passage of legislation instead. Polanco said he also wants assurances that Gov. George Deukmejian will sign such legislation. The Polanco initiative would combine a 50% rollback in bodily injury liability rates with a restriction on recovering damages for pain and suffering.