I think it's doubtful the insurance companies would lower their rates (kindof like the gas companies!) Why would they, the top execs will see the extra money just line their pockets (not like they're greedy or anything!)
Maybe this will finally wake Bush up to the fact that it IS a problem, and one he needs to get off his rear end about (it's still 3 1/2 years away, and the hot topic for the next election is illegal immigration!)