Well, it's probabilistically disastrous, and if actuarily fair, and reinsurable, I don't see what objection is? I mean, what *is* the objection? At some level of abstraction, a public entity can be charged to provide the same insurance product as a private entity, except without the profit margin.
The first premise is the objection- it's won't be actuarially fair, payouts will exceed revenue and the public will foot the bill.
I'm sceptical that CA can deliver an equivalent insurance product with substantively greater efficiency even before considering political pressure to lower rates.
Jan 23, 2026 21:51We finally hit the nail?! "Naively optimistic" versus "Suck it up, the corporate overlords are properly motivated."
