Posted On: January 8, 2007, 1:35 pm CST

Posted By: Tired

I'm not saying they pay the same rate, I am saying that all premiums and/or rates are doubling. With all the insurance companies record profits, how can they justify this? Yes, raise the rates for those that are at high risk, but double, triple. I'm sorry, but something is wrong with this picture. What were they doing with all the money when there weren't any hurricanes? 2004 and 2005 were anomalies. What happen to the backbone of insurance in Spread of Risk. Law of Large Numbers? There have always been hurricanes, fires, tornados, mud slides, sinkholes, snow storms ect. What did the insurance companies do then? I know the losses were lower back then, but so were the premiums. What are they trying to do, place catchup in one year? Make all of us pay for their actuarial mistakes? I'm having a real problem with all of this. What about the coast of the US. I mean the whole coast. There are some places on the coast that have never seen a hurricane and do you think their rates are going up. You better bet they are, and why? They haven't had any losses. Should everone move out of FL., off of Long Island and 250 miles inland. Some people better wake up. The insurance companies are doing this to all of us. They paid those hurricane losses and still made record profits and that was with all our money, not just FL money. Why doesn't someone squack about that? No one cares that they are making that kind of money and now want more. OK, raise the rates in the coastal areas but you da.. well better lower them elsewhere. Are they???