I'm leaning towards yes, but i do have genuine reservations with this.

For one, how am I in any way qualified to decide what ratio is appropriate? Why 83% and not 80%? Or 90%? I like the idea here, but, and i know this is a more complicated ask, id like to see these things done through a mandate to a trustworthy and qualified group who sets the ratios.

Also, there is a carve out for the insurance commissioner to be able to adjust or wave the refund, but if that's not done, i imagine small insurers probably can't tolerate this law? I'm not sure how much to worry about that given that would require they have a worse loss ratio and therefore likely just be a worse plan