Insurance and Climate Change column

12 States Call Out California’s ‘Affront to Sound Insurance Regulation’

By | June 22, 2017

  • June 23, 2017 at 2:04 pm
    agent2 says:
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    Oh brother. Why can’t these guys just do their job?

    • June 23, 2017 at 2:25 pm
      Agent says:
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      California is the land of the fruits and nuts. They just banned state funded travel to Texas, not that anyone from Texas wants to see any of them.

      • June 23, 2017 at 8:25 pm
        Fair Playing Field says:
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        Wow. I guess you must no longer be satisfied with just making racist and misogynistic comments if you feel the need to go after an entire state.

        Hey! How about those Baylor “Christian” Bears, huh?

        • June 26, 2017 at 10:36 am
          VladiBear The Georgian says:
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          What about California is consistent with logical, reasoned thinking? This IDC’s stance on NATIONAL insurers’ investment portfolios is arrogant at best, stupid to be honest, and a key reason Calibfornia is gradually losing it’s appeal and integrity in the eyes of most other states.

          • June 26, 2017 at 4:54 pm
            Fair Playing Field says:
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            I don’t think California will be kicked out of the USA anytime soon, bubba. Not when the state accounts for over 14% of GDP. I’m confident the Golden State will continue to sell food, entertainment and technology across the nation and beyond its borders.

            And as I’ve stated recently in these forums, Jones should stick to regulating rates and insurer solvency.

          • June 26, 2017 at 5:45 pm
            VladiBear The Georgian says:
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            Calibfornia won’t need to be kicked out of the union. It will beg the Federal govt for support and will have to change its ways to get that deal. It’s in NO position to bargain for anything. It’s the biggest state and biggest failure as a Socialist run fiscal dung hole.

          • June 26, 2017 at 5:46 pm
            VladiBear The Georgian says:
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            Keep throwing around meaningless stats like 14% of GDP …. when the stat that matters is ‘DEFICIT POSITION’.

            Ignore the critical and you’ll become just that.

          • June 27, 2017 at 9:03 am
            Fair Playing Field says:
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            Two replies in one minute? Don’t get yourself so worked up. It’s just a conversation.

            There’s nothing “meaningless” about California’s contribution to GDP, just as there’s nothing meaningless about California being the nation’s primary food supplier. Wanna buy some peaches?

          • June 27, 2017 at 1:48 pm
            VladiBear The Georgian says:
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            I grow my own peaches. I catch my own fish. IOW, I WORK for my living. Making 14% of GDP means nothing if you spend 20% of GDP !!!

          • June 28, 2017 at 8:46 am
            Fair Playing Field says:
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            No regular job, huh? Well, hang in there. I have confidence in the national economy under the current administration.

  • June 23, 2017 at 2:28 pm
    Craig Cornell says:
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    Considering the enormous unfunded liabilities for public pensions in states like California, perhaps Jones should be concerned about the risk of investing in heavily subsidized green energy. Or states like California at all. At some point, California and other states will have to pay the piper for huge, unfunded public pensions and green subsidies may dry up. Oh my! The threat to insurance company solvency!

    Jones’ stated concern for the financial solvency of insurance companies is an obvious ruse to promote the green tyranny of the left in any way possible. All investments have some risk. To target only fossil fuel company investments is just too obvious, and another reason the left is discrediting itself on a daily basis with thinking Americans.

    • June 23, 2017 at 5:14 pm
      Counterpoint says:
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      People love to take potshots at California’s finances for some reason. To address your comments on public pension funding, CA is better than the majority of our 50 states in keeping up with their state pension commitments with a funding rate of around 75% (1). On a larger scale, CA is less dependent upon the federal budget than nearly every state (2).

      Your ideological comments are valid since everyone has different values but you can’t argue with the numbers.

      (1) https://graphics.wsj.com/table/Connecticut_102015 and related article
      (2) https://wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/

    • June 23, 2017 at 5:34 pm
      County Line says:
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      Well written, Craig. The People’s Republic of California has lurched so extreme-Left under our one-party rule that there is no end in sight. Perhaps better phrasing would be to say there is no bottom in sight.

      In just a little over a generation’s time the state that blessed us with Reagan has devolved into a place without balance, where it is all about feelings with no foundation in fact. If California citizens care about their state’s well-being, they are foolish to forget how ancient Rome fell due the folly in their politics and society. Alarmingly, such fools hold all political power today in the state and are hard at work following Rome’s path to demise.

    • June 23, 2017 at 5:51 pm
      Counterpoint says:
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      I don’t know why so many people try to take potshots at California’s finances. CA is less dependent upon federal aid than nearly every state in the nation (1). To address your specific concern on pensions, CA’s nearly 75% rate of funding is better than the majority of states (2).

      You can say what you will about the ideology but the numbers aren’t bad.

      (1)theatlantic.com/business/archive/2014/05/which-states-are-givers-and-which-are-takers/361668/
      (2)wallethub.com/edu/states-most-least-dependent-on-the-federal-government/2700/

    • June 26, 2017 at 10:44 am
      VladiBear The Georgian says:
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      @Counterpoint; people criticize Calibfornia’s CURRENT situation because it is DIRE. You can point to HISTORY to defend Calibfornia if you wish, but you’re in the minority because you’re cherry picking stats with little relevance to the big picture.

      There are other poorly managed / governed states in the Union. Guess which political party has controlled most of those troubled states for several decade, even half a century?

  • June 23, 2017 at 5:27 pm
    UW says:
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    Good. Oklahoma is picking energy companies over people. CA, NY, IL, and MA need to use their economic power more. Form interstate compacts and stop allowing conservative taker states to freeload and pass externalities onto liberal states that contribute more than they take to govt.

    Oh wait, they’re just about to collapse, and everybody is leaving them for Alabama and Kansas, as they have been about to do for 60 years. Any day now….

    • June 26, 2017 at 10:45 am
      VladiBear The Georgian says:
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      CA, IL, and CT are now insolvent. Your comments on other states do NOT erase those facts.

    • June 26, 2017 at 5:48 pm
      VladiBear The Georgian says:
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      OK isn’t picking energy companies over people. That is a lie and a misrepresentation. A states doesn’t have a mutually exclusive choice of one or the other. But, for you to advance your agenda, you must presume so.

  • June 30, 2017 at 2:21 pm
    mrbob says:
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    Last I checked the job of the DOI was to protect the public from carriers becoming insolvent. As most assets are not tied up in stocks but rather in bonds and real estate what exactly in the commissioner basing his demands upon? He is certainly entitled to his own political agenda but demanding carriers divest from certain investments unless you can prove that those investments will certainly have an impact upon solvency is political grandstanding at best.



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