103: ‘Quicksand’ or Sound Law?
I recognize and accept the responsibility of The Times to present on its editorial pages all shades of opinion on important issues.
However, Zycher demonstrates not a reasoned opinion, but a highly prejudicial antagonism toward Harvey Rosenfield, Ralph Nader, and Atty. Gen. John Van de Kamp.
We in the Westside Action Coalition worked very hard to help secure passage of Proposition 103. We worked on a very tight budget. But the industry is spending millions of dollars of policyholders’ money to thwart the will of the voters.
Profits of the industry continue to grow. It is easy for a carrier to show, on its financial statement, a loss ratio of 108%. But when income from investments (of policyholders’ money) is thrown into the equation, a profit is the result.
JULES KOGAN
President
Westside Action Coalition
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