Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
First you jack up people assessments and their resulting property taxes. Then you blame the insurance companies who use that same information to help determine the cost of coverage. Whatever you do, don’t blame the greedy bastards in Springfield.
FTR, each state regulates the insurance rates (auto, homeowners, etc.) in its state. The very least: the rates have to be SUFFICIENT to support the risks in that state. They’re not supposed to cross-support risks from other states. There are all sorts of regs already on the books in Illinois (and every other state). The problem comes when the states try to cap the rates… and they come into collision with the need for sufficiency. Florida (and California) run into this trouble all the time. Because they have very high risks. Florida: from hurricanes. California: from wildfire & earthquake. High… Read more »
When the state of illinois regulates your home owners insurance you Will in the end have less options or no options for home owners insurance. It will cost much more or you will have no insurance from the open market. This is a historical guarantee. Now make your plan to leave the state of illinois before the music stops. You are nothing more than a tax mule to the political Cartel!