In the comment section of another thread full time KWS apologist and valet, Elliott Jacobson, promises that Karen Weldin Stewart will:
…be working to bring in revenue to the department and the state. In fact, the Insurance Department is a revenue producer for the state, is funded entirely by the industry. A key part of the KWS agenda is to bring in more insurance entities into Delaware for both revenue and jobs.
Sounds good right?
Wrong. We’ve already tried that and as commenter BTDT points out – it sucked:
NYT link
For seven years Mr. Levinson, the state’s elected insurance commissioner, has put pressure on the insurance companies he regulates to invest in a list of local businesses drawn up by his office. What’s wrong with hitting up these Goliaths for what amounts to small change, Mr. Levinson argues, to help a tiny state create desperately needed jobs?
But what Mr. Levinson sees as economic development, a growing number of lawmakers here see as a conflict of interest that falls somewhere between the blatantly bizarre and the oddly corrupt.
Levison set up a “pay to play” scheme, which KWS seems eager to reconstitute. My question is, if large insurance companies decide to pay Weldin Stewart the protection money that Jocobson is looking for, how does that serve Delaware insurance consumers?
The Bottom Line: The insurance commisioner needs to be working for Delaware insurance consumers. Not insurance comapnies.