Insurance Journal:
As California's third elected insurance commissioner, Steve Poizner has had a wealth of accomplishments. Among other things, he:- reduced the Department of Insurance's operating budget by 13 percent, which allowed him to reduce fees for agents, brokers and insurers and send $20 million back into the marketplace;
- created anti-rescission rules to prevent health insurance companies from canceling consumers' policies improperly;
- increased insurance fraud-related arrests, overseeing nearly 2,800 arrests in his first three years; and
- paved the way for Californians to purchase pay-as-you-drive insurance.
"Offering advice to incoming Commissioner-Elect Dave Jones, Poizner added, 'The insurance commissioner makes hundreds of difficult decisions. There's a lot of unintended consequences, and I encourage the next insurance commissioner to do just a lot of information gathering early on in order to really understand the broad scope of the massive insurance markets here in California and to [understand] the important role that the 300,000 agents and brokers play to making the insurance markets work effectively.'"
