Nov. 26, 2023 - Epoch Times
00:48
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| Time | Text |
|---|---|
| In California, a lot of insurance companies are leaving. | |
| The problem is that our commissioner and our insurance department is the only one that's suppressing the rate increases that need to happen. | |
| We have insurance companies that can no longer do business, but many companies have left. | |
| They don't want to leave, believe me. | |
| They want to stay here and continue to do business. | |
| But our biggest problem in California, or probably anywhere where we're dealing with politicians, is in order for him to remain politically viable, he needs to keep the masses happy. | |
| Nobody wants to sign off on something that's going to increase rates because they're not going to be very popular in their little neck of the woods either with their constituents. | |
| Otherwise, they won't vote for him again for anything because they'll remember that that guy raised my insurance rate. | |
| So that's what's made it a political problem instead of a business problem because that's what it should be. |
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