National News
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Agents Welcome Windstorm Debate; Insurers Warn Against Subsidies
National News • February 9, 2007
The Independent Insurance Agents & Brokers of America (the Big "I") says the debate over windstorm coverage is crucial for consumers and independent agents and brokers in many regions throughout ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Little More To Add | DDT | Feb 12, 2007, 11:15 am |
| NFIP and Wind Coverage | CAT Adjuster | Feb 12, 2007, 8:33 am |
| RE: RE: RE: NFIP and Wind Coverage | Realist | Feb 12, 2007, 7:21 am |
| RE: RE: NFIP and Wind Coverage | Read the bill | Feb 11, 2007, 10:31 am |
| RE: NFIP and Wind Coverage | Can You Say... | Feb 9, 2007, 2:38 pm |
| NFIP and Wind Coverage | Do the math | Feb 9, 2007, 12:27 pm |
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Subject: Little More To Add
If the government and states would allow true risk based pricing for the wind and flood exposures, a private insurer would already be writing the coverage. Trust me, where there is a dollar to be made somebody out there will try to make it.
Unfortunately neither the government or the states will allow true risk based pricing. The argument that we have to keep insurance affordable for all, is the underlining issue. Sure it would be nice to have reasonable premiums for everyone, but as soon as you try that then the people living in less disaster prone areas will be subsidizing those who live in higher disaster prone areas.
Bottom line... the flood coverage is there now for people who want to be adequately protected. Sure it's not cheap... but that is a cost associated with living along a river or coastline.