Thursday, January 3, 2008

Cape & Islands Insurance Donnybrook Resolved

The Widget:

Court: SJC
Judge: Cordy
Subject: Home insurance
Tone: Waterfront-covering
Importance: 4.2

What’s interesting about Commonwealth v. Commissioner of Insurance, SJC No. 09966, is the players involved (Former Superior Court Judge Nonnie Burnes, Attorney General Martha Coakley, and Cam Kerry for the intervening insurance companies). The SJC affirms a sizeable home insurance rate increase for the Cape, Martha’s Vineyard, and Nantucket.

You have to wonder how much the Attorney General’s decision to pursue this was based on politics. Massachusetts politicians sure do seem to devote a disproportionate share of hand-wringing to issues affecting the Cape and islands. Think about the amount of time and money expended by opponents of Cape Wind, and imagine if they’d channeled that time and money toward something more substantial than preserving water views and recreational boating opportunities.

As for this case, is deciding that people who live in areas specially affected by hurricanes should have to pay higher home insurance premiums than the rest of us really that controversial? It looks like the answer is yes. Isn’t that slightly depressing?

No comments: