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What choice does Rick Scott have? Property insurance in Florida is way too politically charged, and there is no chance of getting any meaningful reforms done to save the free market here. The Cat Fund and Citizens are underfunded and overexposed – financial disasters in the making. So, Scott proposes a National Cat Fund that has absolutely zero chance of passing and in direct contradiction to the conservtaive principle of proetecting the free markets and avoiding govt overreach. But, the reality is that 49 other states have no incentive to bail out Florida, especially when this state has demonstrated a clear inability to solve this problem and tell Floridians the truth. Charlie “the panderer” Crist screwed us, and Rick Scott will have an incredibly tough job trying to get Florida back in the free market lane for property insurance.
“…A national windstorm insurance pool would be similar to one that has been in place for flood insurance since 1968. Property owners in designated areas could buy insurance from the government.”
First, let’s all remember Rick Scott is not only a Republican but a “Tea Party Darling.”
Is this the same Tea Party that has held the NFIP hostage again, and again, and again, and again, resulting in the program nearly collapsing a dozen times over the past few years alone? How many IJ articles have there been about how the GOP steadfastly refuses to fund things like NFIP?
Is this the same Tea Party that thinks Government-Provided Anything is nothing short of Communism and treason? And they are actually stating, on the record, that they are at least “open to” and possibly supportive of, a government takeover of the entire countrywide windstorm insurance industry?
These people will say and do anything. What a joke. The hypocrisy couldn’t be more transparent. “It’s so broken only the government can fix it.” Really. From an right-wing extremist tea party Republican. Where’s my barf bag?
I just received my 2012 insurance renewal policy from Amica Ins. Co, based in Rhode Island and I couldn’t believe my eyes. The Florida Hurricane Cat Fund increased from $67.00 last year to $189.00!!!! REALLY? We haven’t had a storm in 6 yrs and I receive a 300% increase? Something is wrong here.