December 4, 2013

After Obamacare, ObamaCar Insurance?

By Lee Cary
The rollout of ObamaCare is, once again, displaying the federal government's adeptness at managing complexity -- a capability already illustrated by the Internal Revenue Service (IRS), Amtrak (FUBAR), and the United States Postal Service (USPS).  Given the extraordinary rollout of ObamaCare, it's time to start moving toward single-payer auto insurance. Here are two reasons why. First, auto insurance companies offer a mind-boggling array of pricing options. Their nationwide, indecipherable rate structure cries out for the keen, coordinating skills of the Washington D.C. central planners.  Second, the spread of telematics applied to vehicle tracking will offer the federal government new surveillance and revenue enhancement opportunities.     Between 1989 and 2010, the National Association of Insurance Commissioners (NAIC) reported a national average increase of 43.3% in auto insurance rates. (By the way, the new NAIC CEO -- essentially a lobbyist job --...(Read Full Article)