Re "Allstate is ordered to cut homeowner rates 28.5%,"
What utter nonsense for Insurance Commissioner Steve Poizner to tell any insurance company what it should charge for its products.
The free market has always worked to the consumer's advantage over the 50-plus years that I have been a licensed insurance broker in California.
Policyholders with a little common sense know how to shop around. People who were referred to me and had Allstate insurance were easy sells, because every company our office represented had rates that were substantially lower than Allstate's.
This is how the free market works. Controls are not necessary.
Insurance commissioners seem to use their jobs as steppingstones to other offices. I guess if you pander to the voters, you become a hero.