Friday, November 2, 2012

Judas Christie Rewrites Insurance Contracts: Bans Deductibles

A friend writes:
Hot off the press: Gov Christie signs an order to ban homeowner deductibles from insurance companies due to Sandy.

I don't know how the hell he could do that.

Even worse, what company will ever write insurance policy in NJ again, with a deductible, which means rates to go much higher.
So much for the sanctity of contracts and the rule of law.

What this is going to do is cause an increase in insurance premiums in all areas vulnerable to hurricanes, since insurance companies will fear this type of Draconian re-writing of  insurance contracts in the future, It will cost insurance companies billions.

I wonder what they will say over at Cato Shrugged about their "principled" pal and his latest move.


  1. To be clear, the executive order states that Sandy did not meet the threshold for being considered a hurricane, and therefore that normal deductibles apply instead of special hurricane deductibles.

    Since insurance contracts presumably contain clauses stating what is and isn't a hurricane (possibly even deferring to government institutions on the matter), his order may not change anything in regards to insurance payouts.

  2. I realize the US constitution was thrown out by Lincoln, but nonetheless it is purportedly still in effect, so....

    No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts,

    Can't see how this will fly.

    1. I commend you for it, but you're still assuming the courts read the constitution.

      See the section post Blaisdell.

  3. JayZsus. It's getting worse. Add this to Governor Cuomo's threat to the electric companies and the potential for this to REALLY get out of hand gets worse day by day.

    Sandy might destroy the system...should we be happy?

  4. No way that holds up. What the hell has happened to contract law in this country?

  5. Law? Really? There is no "rule of law" in the US (or EU, or Japan...)

    It's all based on who has money and influence. Otherwise Jon Corzine would be in jail along with Madoff.

  6. Send the Fat Man to Moochelle's school for da obeese!

  7. Fat little terrorist...That piece of shit isn't human!

  8. If New Jersey insurers follow Florida precedent, their homeowner policies should read like mine: 'Your "hurricane" deductible will apply to losses by windstorm anytime a storm system has been
    declared to be a hurricane by the National Weather Service and a hurricane watch or warning has been issued anywhere in Florida and ends 72 hours following the termination of the last hurricane watch or warning anywhere in Florida.'