Right Street

Is California’s Prop 103 System ‘Democratic’?

Defining the term “democracy” has long been a challenging proposition. Nearly all agree that a democracy is a government that reflects the will of the people, but questions about the particulars, of what structures are wise or useful to harness …

New York ‘Bad Faith’ Bill Repeats Mistakes of California and Florida

The State of New York may be on the verge of making the same mistake that has driven Florida auto insurance premiums through the roof, and that did the same in California until its high court learned the error of …

Tort Reform Could Move Louisiana Closer to a Passing Grade

For two years in a row, Louisiana has had the ignoble distinction of finishing dead last, with a grade of “F,” in the R Street Institute’s annual report card of the insurance regulatory environment in each of the 50 states. …

California Lawmakers Move Toward Risk-Based Rates

As the Soviet Union ultimately learned the hard way, price controls are a guaranteed way to prolong shortages. It has taken a few years, but there are promising signs California lawmakers may finally be ready to learn the same lesson. …

After All These Years, States Still Don’t Understand Credit Scoring

You may have missed it, as some bigger events have been dominating the headlines in recent weeks, but the West Virginia Legislature and Maryland General Assembly both recently adjourned after having considered bills (SB 659 and SB 17, respectively) that …

Does Prop 103 Allow Auto Insurers to Provide COVID-19 Rebates? Maybe Not

As is by now obvious to everyone, Americans are driving less these days amid the COVID-19 pandemic. Across the country, schools and businesses are shut down. Many areas have curfews and stay-at-home orders that ask citizens to limit any nonessential …

We Oppose Nearly Every Government Insurance Program. We Could Support One for Pandemics.

Over the eight years of our existence, the R Street Institute has offered critiques of government-backed entities that provide insurance or reinsurance for flood, crop, windstorm, earthquake, auto, workers’ comp, nuclear energy liability and terrorism. We have warned that such …

COVID-19 Should Force Rethink of Wisdom of Monopoly State Funds

The COVID-19 outbreak is expected to hit the workers’ compensation insurance market hard. After a long stretch of declining costs that saw rates fall nationwide from 2015 to 2019, claims for workers infected by the virus while on the job …

California Legislative Recess Leaves Wildfire Plan in Limbo

Californians statewide are huddled at home under a “shelter-in-place” order handed down March 20 by Gov. Gavin Newsom to stem the spread of the COVID-19 virus. Unfortunately, nature does not take a break for pandemics. California also remains under wildfire …

How the Digital Tax Could Swallow Insurance

Though tensions were high coming in, President Donald Trump left the World Economic Forum in Davos, Switzerland, with at least a temporary truce on one of his latest threatened tariff fights. Trump and French President Emmanuel Macron reportedly came to …

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