So Gov. Nikki Haley has decided that a lobbyist for the insurance industry should lead the S.C. Department of Insurance.
No word yet if Haley will tap a BP Oil executive to head up Health and Environmental Control or Al Capone to lead SLED.
But why not – she’s all about the fox guarding the henhouse.
In Stephen Largen’s story in Wednesday’s Post and Courier, the governor is quoted as saying Ray Farmer – who probably doesn’t own Farmer’s Insurance, State Farm or Farm Bureau, but it sure seems funny – knows what policies work, what businesses are looking for and what gets them a good profit margin. And he knows customer service, Haley claims. Nice of her to throw a bone to her constituents.
Trouble is, insurance buyers should be considered at least as important as the insurance sellers (and probably more so). But that’s not the way it works in South Carolina. The way it works now is: Insurance company requests rate increase, Department of Insurance says “Sure thing, buddy.”
So if you ever wonder why your insurance rates keeping going higher and higher, thank the governor and all the folks at the S.C. Department of Insurance – run by the industry, for the industry.
Here’s the Boss, predicting where our insurance rates are going next year, thanks to Haley: