To run for Attorney General you have to be an attorney and to run for Agriculture Commissioner you have to be a farmer. As long as I can remember the Commissioner of Insurance for Georgia has either been a career politician or an attorney. It’s time for someone with insurance experience to be the Commissioner of Insurance. I am that person, Dennis Cain from Hazlehurst Georgia, and I have been a multi-line insurance agent for 31 years.
There has been a lot of talk about the national health care plan by almost every politician which amounts to just political posturing to grab the voter’s attention rather than offering an alternative solution. I too am against this federal intrusion into our personal lives; however, I realize it will take more than mere ranting and railing against the plan to stop its implementation. Unless we develop a viable State alternative, we will be forced to submit to this leviathan government program. I believe that the Commissioner of Insurance must take a pro-active leadership role in working to solve the problem of the uninsured and uninsurable in Georgia. I believe that can be accomplished under the Commissioner’s leadership by bringing the health care providers, the insurance companies, consumer groups, and insurance agent groups together to develop an affordable health plan for the uninsured taxpaying citizens of Georgia that will be an example to the rest of our nation.
While the solution for the uninsured citizens lies with the private sector, the solution to the problem of the uninsurable can come only from the government; however, it should be at the state level which is more accountable and responsive to the taxpaying citizens rather than the federal government in Washington. High risk pools must be developed for the uninsurable citizens along the lines of the Georgia Fair Plan pool and the assigned risk pool which provides coverage for property and workers compensation that can’t be obtained in the regular insurance market.
I am the only candidate for Commissioner of Insurance willing to expose and take on the issue of credit based rating (CBR) insurance premiums. This system was implemented by the Insurance companies without the knowledge of the vast majority of Georgians.
It is simply Legal Discrimination against a large segment of Georgia citizens. When a person applies for auto or homeowners insurance, the insurance companies run a CBR, which is established primarily by the person’s credit score. The buyer is given a quote based on past claims on the homeowners and auto, the driving record of all drivers on the auto plus the CBR score and other factors, which even the agent, cannot articulate. The insurance companies justify this practice by data, which they say proves a person’s credit rating indicates whether that person is a good insurance risk, without regard to the risk insured! It would do well to remember what Mark Twain said about statistics!
As an agent, it has been my observation that less than ten percent of my customers receive a CBR score of 1, which gives them a better insurance rate. The remaining 90 percent fall within the 2 to 9 CBR score, which means a higher rate.
The upshot is two fold. First, the insurance companies will enjoy the benefits of assessing higher rates on the vast majority of the policyholders without having to go through the Commissioner to file for a rate increase, as they should. Second, Georgians who have a higher CBR are being required to pay higher rates without regard to the true risk being insured.
Because of either being economically conservative and having little credit history (like many of the elderly who live on fixed incomes and have little or no debt) or having suffered some financial distress, no matter how slight during these very tough economic times (how many Georgians have been late on a credit card or other payment once?). This system needs to be corrected, and as Commissioner of Insurance, I intend to do everything in my power to redress this injustice.
Finally, I believe the Commissioner of Insurance should be as Caesar’s wife, above reproach. I therefore have committed that I will not knowingly accept any campaign contributions from any person or entity that I would regulate as Commissioner of Insurance. I will be beholden to no one but the citizens’ of Georgia as Commissioner of Insurance.
Follow me at cainforgeorgia.com and vote Dennis Cain, Republican on July 20th.