California Democrat Insurance Commissioner Dave Jones along with his union oriented brothers and sisters now require California Insurance companies that wrote over $300M in business last year to respond to the a questionnaire concerning how their business and operations are impacted by and addressing disproven climate change faux science. This may be just another strategy for Jones to drive insurers from California so he can be first in line to be Obamacare Czar in California.
The Workers Comp Executive wonders, “Next we expect the Department to make inquiries as regards carrier preparation for the coming zombie apocalypse or even the invasion of the body snatchers. Those interested in learning how to deal with the coming Zombie Apocalypse can do so here: Zombie Preparedness DVD $35.
But brother insurance companies, those nasty 1 per-centers, wonder if such a survey and the policy mandates lurking behind violate the interstate nature of policies and regulatory authority.
In a letter to the president of the NAIC, both the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America say the issue is violating the process and spirit of “interstate comity and collegiality” that is the underpinning of the state-based regulatory framework. “The use of nationwide group premium writings as justification for a “licensed” state to impose its regulatory authority on the domestics of other states undermines the comity and interdependence among the states that is the cornerstone of the NAIC accreditation program,” the associations note in a letter to NAIC President Kevin McCarty.
Violating “the spirit of interstate comity” is one thing. But for Commissioner Dave Jones and his comrades to use their regulatory authority to violate factual reality for reasons of keeping their leftie constituencies at bay is quite another.
But for Commissioner Dave Jones and his comrades to use their regulatory authority to violate factual reality for reasons of keeping their leftie constituencies at bay is quite another.
CDI says it will be posting the responses to the questionnaire on a public website for all to see. By this they force those they regulate to give credibility to false science and to pay intellectual fealty to the left.
Of course carriers brought this false science on themselves considering the falsehoods and half-truths stuffed into the recent 37% workers’ comp rate increase they called a decrease. What goes around apparently really does come around.
The eight question survey delves into a number of issues related to climate change. In addition to the carriers’ internal response to the climate change issue, they are also being asked how climate change may impact their financial well being as well as the potential impact on its customers.
“Has the insurer considered creative methods of risk distribution such as contingency plans to reduce financial leverage and resolve any liquidity issues in the event of a sudden loss in surplus and cash outflows as a result of a catastrophic event?,” the survey asks. It also raises questions about the potential impact on its investment portfolio and the steps it is taking to encourage policyholders to minimize their risk of loss from climate change-influenced events.
Apparently Commissioner Dave Jones is unaware that hot balls of fire could be considered an act of God although one might wonder if this kind of Democrat can even consider that choice.