Proposition 103 Still on Hold
Rosenfield stated that in British Columbia for every dollar consumers pay in for premiums, their insurance company pays a full dollar back in claims. Further, he states that investment income covers all expenses and overhead.
Wonderment and puzzlement: How do you achieve investment income to provide for salaries and other overhead if every dollar received is paid back in claims?
If what Harvey says is true in British Columbia, he should be puzzled as to how B.C. pays salaries and other overhead if it is treated as above. Guess who would pay--the taxpayer in the form of premiums and taxes.
Well, Harvey, keep it up for a socialized insurance system and we can all go to Department of Motor Vehicles for prompt service.
ROBERT J. TOWER
Huntington Beach
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