Prop. 103 and the ‘Insurance Mess’
Proposition 103 has rallied all of Ralph Nader’s cronies: those who want something for nothing. They, and several legislators are clamoring for new laws to force insurers to do business with the very people who perceive the insurance companies as greedy fat cats.
With over 600 companies doing business in California, the insurance industry is highly competitive. Their “obscene” profits, according to Business Week Magazine, are running 5.6%, down 24% from last year. It is difficult to understand how anyone can think the insurers can cut premiums 20%. Maybe Nader should take a 20% pay cut along with each and every person who voted for 103!
BILL LYONS
Saugus
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