On December 5, 2009
Insurers Could Become Fire Fighters de Facto, and Face ‘Alarming’ Bills
As ominous as a fire bell in the night is the news that Passaic, New Jersey Mayor Alex Blanco is considering billing insurance companies for fire department services. The state of New Jersey, as well as most of its municipalities, is facing a serious shortfall in revenue. By the latest count, outgoing Gov. Jon Corzine is leaving his successor, Chris Christie, with a $34 billion deficit – just at the state level. And California’s budget problems are even worse. Most states and municipalities are facing the prospect of empty pockets and higher taxes. But Blanco has a solution, well, a partial solution. Charge the property insurance carrier whenever the fire trucks roll up to a building that the company insures;…
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