Consumer Federation Says Prior Approval Works, Industry Says Not True

April 24, 2008

  • April 25, 2008 at 3:14 am
    Kaso says:
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    How can Mr. Hunter say there will be less competition and higher company profits when there is no ‘prior approval’? Just like the Gold Rush, miners (aka insurance companies) always follow the gold (aka higher profits).

  • April 25, 2008 at 3:35 am
    LLCJ says:
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    I’m not sure what you’re trying to say, but yes insurers seek higher profits. however, when other insurers see high profits, they enter the market, causing more competition.

    Look at what happened to NJ auto when they relaxed the restrictions.

  • April 28, 2008 at 7:57 am
    Kaso says:
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    LLCJ; You’re right, I may not have been as clear as I would have liked…but you got it. The only thing I’d add is that more competition ultimately means lower rates.

  • April 29, 2008 at 5:26 am
    Harvey's a real piece says:
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    What Harvey SHOULD have said:

    “California voters passed a pie-in-the-sky pandering piece of legislation that promised them lower rates. What they got were the 2nd highest premiums in the nation. My organization, after I authored the legislation, made millions in intervenor fees. God bless America and God bless gullible Americans.”



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