Here is an interesting post by Martin Grace, Risk Prof. Professor Grace is from Georgia and he apparently does not like our Prop 103. Of course, he also seems to like insurance companies, so that would make two things that he and I do not agree on.
As I commented on his blog, insurance is not like buying a car or a television or a computer. Insurance is mandatory. Buy a house – your mortgage company requires it. Try to buy a car – you need insurance. You don’t need a car or a television or a computer. The basics of economics do not apply to insurance. The industry, every time they have a loss, threatens to pull out of an area despite making record profits.
Prop 103 was a good idea and is still a good idea.