Comments on: Beware Excessive and Unreasonable Power http://www.thefreemanonline.org/headline/beware-excessive-and-unreasonable-power/ Ideas on Liberty Wed, 15 Feb 2012 01:57:20 +0000 hourly 1 http://wordpress.org/?v=3.3 By: 40ag.com http://www.thefreemanonline.org/headline/beware-excessive-and-unreasonable-power/comment-page-1/#comment-22898 40ag.com Sun, 28 Feb 2010 18:08:29 +0000 http://www.thefreemanonline.org/?p=9338314#comment-22898 [...] Healthcare.Hands off my Meds – John StosselBeware Excessive and Unreasonable Power [...] [...] Healthcare.Hands off my Meds – John StosselBeware Excessive and Unreasonable Power [...]

]]> By: George Schwappach http://www.thefreemanonline.org/headline/beware-excessive-and-unreasonable-power/comment-page-1/#comment-22839 George Schwappach Thu, 25 Feb 2010 22:44:29 +0000 http://www.thefreemanonline.org/?p=9338314#comment-22839 I am a floridian, and I can tell you what a mess the state regulation of insurance rates can be. Here, property insurance is so heavily regulated. Multiple companies have left the state (like State Farm), leaving property owners having to resort to the state's own insurance company, Citizens Property Insurance Corp. This insurer has become the largest in the state. It is backed by the full faith and credit of the state of Florida. If a major weather castrophy were to happen, the state would go broke. Recently, the state has been trying to organize a larger "pool", by tieing several states together. The key would be to have the federal government bail them out when things go bad. That is the broke looking to the bankrupt for a hand. I am a floridian, and I can tell you what a mess the state regulation of insurance rates can be. Here, property insurance is so heavily regulated. Multiple companies have left the state (like State Farm), leaving property owners having to resort to the state’s own insurance company, Citizens Property Insurance Corp. This insurer has become the largest in the state. It is backed by the full faith and credit of the state of Florida. If a major weather castrophy were to happen, the state would go broke.
Recently, the state has been trying to organize a larger “pool”, by tieing several states together. The key would be to have the federal government bail them out when things go bad.
That is the broke looking to the bankrupt for a hand.

]]> By: jgaultcsa http://www.thefreemanonline.org/headline/beware-excessive-and-unreasonable-power/comment-page-1/#comment-22814 jgaultcsa Thu, 25 Feb 2010 14:46:00 +0000 http://www.thefreemanonline.org/?p=9338314#comment-22814 As A New Yorker whose family business has been Insurance for over 50 years, I'm all too familiar with the all powerful, totally corrupt NYS Insurance Commission. Although, as fundamentalist said, this is probably already true in most states, he/she fails to recognize the core principle here is Federalism. Government is corrupt and overbearing at all levels, but Obama's administration increasingly tries to expand the FEDERAL government's role into areas that should belong at the state level. He's all about centralizing power & control & that scares me more than the specifics of this particular gambit. http://www.csa-1776.org Conservative Society For Action As A New Yorker whose family business has been Insurance for over 50 years, I’m all too familiar with the all powerful, totally corrupt NYS Insurance Commission. Although, as fundamentalist said, this is probably already true in most states, he/she fails to recognize the core principle here is Federalism. Government is corrupt and overbearing at all levels, but Obama’s administration increasingly tries to expand the FEDERAL government’s role into areas that should belong at the state level. He’s all about centralizing power & control & that scares me more than the specifics of this particular gambit.

http://www.csa-1776.org
Conservative Society For Action

]]> By: fundamentalist http://www.thefreemanonline.org/headline/beware-excessive-and-unreasonable-power/comment-page-1/#comment-22813 fundamentalist Thu, 25 Feb 2010 14:30:59 +0000 http://www.thefreemanonline.org/?p=9338314#comment-22813 I would worry about Obama's power grab if the states didn't already regulate insurance to a far greater degree. All states have insurance commissions that insurance providers have to submit rate to every year. The commission must approve all rates, not just rate increases. The ratio of the highest to lowest rate classes cannot be greater than 2:1. At the same time, commissions don't see any advantage in driving companies out of business, so they allow rate increases. They try to keep profits down to around 5%. As a result, insurance is much more like a regulated utility. I would worry about Obama’s power grab if the states didn’t already regulate insurance to a far greater degree. All states have insurance commissions that insurance providers have to submit rate to every year. The commission must approve all rates, not just rate increases. The ratio of the highest to lowest rate classes cannot be greater than 2:1. At the same time, commissions don’t see any advantage in driving companies out of business, so they allow rate increases. They try to keep profits down to around 5%. As a result, insurance is much more like a regulated utility.

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