Andrew Hosmer (D), senate candidate from District 4, has carefully read all of the decisions concerning the attempted JUA raid, and concludes that indeed the excess surplus belongs to policyholders. His comments can be found at this link to the Laconia Citizen.
Governor Lynch, who started this Quixotic Quest with his budget address in February 2009 continues to be misguided and misinformed on the issues (One might think that the advisors who counseled him through this collosal loss would have been replaced.... but you would be wrong). The Governor clings to some notion that despite applicable laws which prohibit the state from running an insurance company, regulations that say surplus funds belong to policyholders and contracts which say the same, he can re-write rules to engineer a different outcome. I hear the music swelling.... "To dream, the impossible dream, To fight the unbeatable foe...."
Governor-- it's not that complicated. You went to law school. You know what it means when the Supreme Court rules against your position. You understand what a contract is. You know the obligations of the state constitution. You are a smart guy. The money does not belong to the state. Instruct your insurance commissioner to stand down and let the JUA pay the policyholders what they are owed. If you are so personally invested in making the fund tax exempt, return the excess funds immediately as damages or return premiums. Anything short of that outcome can only be read as preservation by you and your advisors on another attempted raid. And get some new advisors..... Now we are dreaming the "impossible dream."
