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“We are ‘out California-ing’ California

Sen. Jeff Brandes proposed an amendment that writing old roofs apply only to the state-run insurance company (Citizens Property Insurance Company). Here are Sen. Brandes’ comments about his proposal, which was not accepted:

“So we are out California-ing California, by requiring insurance companies to provide coverage on a product they’re likely to lose money on, on one they’re almost assuredly to get sued on, and it’s going to dramatically change how the reinsurers view certain books of business. 

So my argument is we should not do that. If we’re going to do it, let’s do it not to the private market, but to the government owned insurance company of Citizens Property Insurance.”

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