Last Thursday, the Department of Insurance, which has been completely tone deaf on the issues pertaining to policyholders' rights, filed revised rules with JLCAR.
In a message to the Department of Insurance, attorneys for the Policyholders asked the Department to confirmm that it "has reconsidered and decided to pull the proposed amendments given the considerable legislative change resulting from yesterday's elections."
The department through its general counsel responded, "the Department's primary focus continues to be on resolution of the federal tax issue. Finalizing amendments to Ins 1700 is an important step toward a favorable outcome for the Plan. We do not see that the election of new legislators would eliminate the need to address the tax issue. Preservation of the Plan's tax exempt status is in the best interest of the policyholders and the public. Therefore, the Department filed the attached amendments to Ins 1700."
In short, these bureaucrats still don't get it. They continue the improper efforts to deprive policyholders of their vested rights.
This abuse of power is stunning. Perhaps the new executive council will start removal proceedings against Commissioner Sevigny and Deputy Commissioner Feldvebel for their blatant disregard for policyholders' rights.
