I have to admit that I was pretty impressed when I got off of the phone with Insurance Commissioner Steve Poizner last Sunday night. When my phone rang, and Poizner was on the other end, I expected to have a chat about his campaign for the GOP Gubernatorial nomination. But actually, he was calling me, in his capacity as Insurance Commissioner, to let me know about a bold new policy that he would be announcing on Monday, launching a funding probe from the Department of Insurance targeting investments made by insurance companies in Iran.
"Jon, using my authority as Insurance Commissioner, I will be announcing tomorrow a terror funding probe targeting direct and indirect investments by insurers in Iran."
As I am sure that many FR readers were when we ran the news accounts of this new initiative by Poizner on the FlashReport, I was taken aback by the fact that I didn’t even know that a state Insurance Commissioner could engage in this way – and so I was really caught off guard. But as Poizner (who is pictured at a press conference last Monday announcing his anti-terror funding probe) laid out some of the specifics of his plan, it was clear that this was not only a well thought out strategy on his part – but that the idea was bold, and had far reaching implications.
I have to applaud Poizner’s “out of the box” thinking on this topic. As I say from time to time, I am not really a fan of the actual position of Insurance Commissioner, having voted against the ballot proposition which created it. That said, I am a fan of this idea, and think that Poizner’s thinking of it and putting it into effect demonstrates a pretty broad understanding of the powers of his office. Poizner is the first insurance industry regulator in the country to initiate a program like this, but Poizner told me that he hopes that all of the other states follow suit.
I recall the first time I sat down with Steve Poizner, some years ago now, and that at the time he shared his experience of being at the White House, assigned to the office of the National Security Council, when the terrorist attacks of 9-11 took place. Apparently his time spent with the NSC during that critical time in American history gives Poizner a perspective that most do not have, and experience that he is bringing to bear as Insurance Commissioner.
The job of California Governor is a complex one, that will involve an occupant who has the maturity and sophistication to identify and tackle a myriad of issues – some obvious and some not so much so. This kind of policy move by Poizner demonstrates that he possesses the kind of ability required in the office. This is good, because California government has a lot of problems right now – big problems – and we need candidates who, if elected, can play a key role in tackling them.
There is still nearly a year before the primary, where Poizner will face off against at least Meg Whitman and Tom Campbell. I have always thought that one distinct advantage that Poizner brought to contest was the fact that he currently holds statewide elective office – but I wondered whether the actions taken by Poizner in a regulatory office, Insurance Commissioner, could translate to positive impression on voters – especially primary voters.
In conclusion, there is one big loser because of Poizner’s new policy directive – especially if it catches on nationally – and that is the government in Iran. Their support for terrorism and terrorists is totally unacceptable. And to the extent that Poizner’s proposal has the effect of cutting of any funds invested in that country, Poizner and the people of California who elected him will be able to say they played a critical role in the fight for global freedom and liberty.
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