Hot off the press: Gov Christie signs an order to ban homeowner deductibles from insurance companies due to Sandy.So much for the sanctity of contracts and the rule of law.
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.
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.