Quake Insurance

I’m writing to express my family’s and my neighborhood’s most vigorous opposition to any bill aimed at creating mandatory earthquake insurance. It doesn’t matter whether the bill covers every county or just those at risk from earthquakes. It doesn’t matter if the bill covers personal belongings or merely structural damage.

The idea of the state government collecting additional moneys through the insurance companies and simply holding it for possible use in the event of an earthquake is ridiculous.

There will be pressures to use the money for minor earthquakes, earthquake-related projects, and (eventually) general expenditures. The insurance companies will claim a portion of the money as their administrative fee. The money will be available for deposit in banks that are favored by the governor and his treasurer. The money will be removed from the general economy and will reduce economic activity.

It’s far better to borrow when needed than to tax in advance of need and let the money lie fallow, possibly for decades.

When the time comes for proper disbursement of state funds for earthquake relief, the voters will happily approve a bond issue or other borrowings, as necessary.

ROBERT A. MOSKOWITZ

Woodland Hills