First, Do No Harm!

By Dale F. Ogden

I've seen what's been done in California and other states and I won't make the same mistakes.

As insurance commissioner, my first and foremost goal would be to "Do no harm." With the politicization of insurance regulation, we've had two corrupt individuals attempting to use the resources of the insurance department and the insurance industry (through extortion and intimidation) for personal enrichment and as a stepping stone to higher political office.

Most, if not all, economic regulation is harmful to the public and the economy; if anyone benefits at all, it usually is limited to the politicians who exercise the vast discretionary power over the industry. Sometimes, the regulated industry also benefits because it is shielded from customer accountability and competition by the regulators (like the phone company). Vast resources are wasted making the Insurance Commissioner happy that could better be used making customers happy.

Through my experience with insurance regulators throughout most of the fifty states, I have seen what works and what doesn't work; I have seen the harm done by both excessive zeal (i.e., the road to hell is paved with good intentions) and abuse by elected and appointed politicians for their personal and political benefit. I would not make those mistakes.