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Ana MariaSome have said that I may be too cozy with the industry I regulate. Those who make these charges have never offered one fact where I have not held [the] insurance industry accountable to the laws of Mississippi that I am called on to enforce.
–George Dale Speech at the Neshoba County Fair,
video courtesy of John Leek and Cotton Mouth Blog
After 32 years sucking out money at the government teat, after over three decades in the job, George Dale doesn’t know his job. He is supposed to effectively, efficiently and faithfully carryout the duties of insurance commissioner. That is not just following the letter, but also the spirit, of the law. The point of his job isn’t to be the government paid lobbyist for the insurance industry. Voters wouldn’t put up with that nonsense. The industry has plenty of its own money to pay for lobbyists.
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A.M. in the Morning!
I just checked out your blog. I lived in Bay St. Louis in the 1960s on Joe's Bayou Road. The people that had the home that I lived in received 20 ft of water. Thank goodness thay had flood insurance, after all, that is what it is for...not your homeowners insurance policy. You show that 108 billion was made by the insurace industry in 2005-2006. At the end of 2006, insurance companies had paid out 11.9 billion in Mississippi alone on Hurricane Katrina. That is $4200 for every man, woman and child in the state of Mississippi. I actually think George Dale has done a good job and think that since Mississippi only represents 3/4 of one percent of all property casualty business in the country and we have hurricanes, hail, tornadoes, wind storms, ice storms, and a poor legal climate, it is a wonder that any companies are left...I think George Dale has done a good job.
ReplyDeleteRemember, the rest of the state is sorry for what happened on the coast. That does not mean that we might want to pay for it in our insurance premiums for the next 20 years. We think much of the risk should be keep and billed for where the risk exists.