What’s the latest on your ongoing battle with Insurance Commissioner Poizner over Prop 103?
Well, it’s actually in the hands of the governor at this time. It has to do with some emergency regulations that Poizner wants to issue. First of all, I don’t believe there’s an emergency—it’s a falsehood and the regulations need to be vetted in the public with the public having adequate time to understand that the regulations harm consumers and give the insurance companies an opportunity to overcharge consumers. Proposition 103 has been incredibly successful. I implemented it in 1991, came back and finished the job in 2004, and the result is $62 billion in savings to auto insurance customers. Homeowners are experiencing billions of dollars of savings, over a billion and a half dollars in rebates, and the insurance companies are behaving themselves. All the while, the insurance companies have been operating in a very competitive market, so there are a lot of options for consumers. The market has been stable compared to other states, and the auto and homeowners markets have been far che
