Insurers Build Record-High Surplus, Lower Non-Coastal Rates After Hurricane Respite
National News • January 8, 2007
With elevated hurricane activity predicted over the next 15 to 20 years, insurers took advantage of last year's respite to fix the roof while the sun was shining, setting aside billions to ...
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Subject: RE: P & C industry surplus
Posted On: January 9, 2007, 4:57 pm CST
Posted By: Had enough
Comment:
Let's see if I have this right. You are upset because the Florida rates are going up despite the insurance industry having record profits this year. Ever think that the profits are coming mostly from the other parts of the country?
The companies that are having stellar years for the most part are those that have nothing to do with the SE. There are thousands of companies that write P&C insurance in the US, and 90% of them have nothing to do with your homeowners insurance in Florida.
The homeowners rates in the SE should be commiserate with the risk. Yes, I live in a tornado threatened area of the country, but tornados normally only hit small portions of the landscape and last only a few minutes. The odds of my house getting hit by a tornado are miniscule. A hurricane causes a path of destruction hundreds of miles wide and lasts for hours. The odds of your house getting hit by a hurricane are pretty high, no matter where you live in the SE, Florida particularly. Even if you don't suffer a direct hit from a Cat 5, there is enough wind around a hurricane to at the very least cause minor claim activity for most home owners.
Quit yer complaining or move out here in the sticks where insurance is cheap.
Subject: RE: P & C industry surplus
The companies that are having stellar years for the most part are those that have nothing to do with the SE. There are thousands of companies that write P&C insurance in the US, and 90% of them have nothing to do with your homeowners insurance in Florida.
The homeowners rates in the SE should be commiserate with the risk. Yes, I live in a tornado threatened area of the country, but tornados normally only hit small portions of the landscape and last only a few minutes. The odds of my house getting hit by a tornado are miniscule. A hurricane causes a path of destruction hundreds of miles wide and lasts for hours. The odds of your house getting hit by a hurricane are pretty high, no matter where you live in the SE, Florida particularly. Even if you don't suffer a direct hit from a Cat 5, there is enough wind around a hurricane to at the very least cause minor claim activity for most home owners.
Quit yer complaining or move out here in the sticks where insurance is cheap.