2007 Senate Bill 22: Mandate insurance price cut

Legislation watch

Comments on this legislation Post new comment Text and Analysis Add to Watch List
Previous Next

Introduced by Sen. Samuel B. Thomas, III (D) on January 24, 2007, to force insurance companies to lower auto and homeowners insurance rates by 20 percent. Presumably companies unable to cover costs and anticipated claims at the lower price would be prohibited from selling insurance in Michigan.
- Referred to the Senate Economic Development and Regulatory Reform Committee on January 24, 2007.

Most Recent Comments

Add Comment

1) Excellent Post by Anonymous Citizen on February 16, 2007
Great sarcasm, I wish more folks in this state would take econ 101
Reply

Line

2) Another Pixie-Dust Bill by Kurt Gallinger on February 16, 2007
Here is yet another bill that proposes that we address economic reality with pixie-dust solutions. If something costs 'too much' just sprinkle pixie-dust and lower the price. Why not? It sounds good and it replaces uncomfortable reality with comfortable fantasy.

But, this is an old idea that actually may not be bold enough. Why stop with automobile and home insurance? Food, utilities, shelter and transportation can also challenge the household budget. But instead of forcing the providers of these goods and services to leave the state by forcing them to sell at a loss, why not just require employers to pay higher salaries?! I say start with a state-mandated 50% increase and see where that gets you.
Reply

Line

3) 2007 Senate Bill 22 (Mandate insurance price cut ) by admin on January 1, 2001
Introduced in the Senate on January 24, 2007

Click here to view bill details.
Reply

Line

View Full Conversation