From the Times Picayune this morning comes an article about the proposal to do away with Louisiana’s Insurance Rating Commission. Here’s the key point: "Louisiana is the only state in the nation that still gives political appointees power over setting rates on homeowners and automobile insurance." Governor Blanco said "if it is a factor in keeping insurance companies out of Louisiana I am open to examining the issue."
I’m all in favor of government oversight (especially for insurance companies, given our current plight etc.), but when we’re the only state doing something it’s not likely to be because we have some keen insight the other 49 are lacking.