National News
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RAND Study: Wind Insurance Scarce on Gulf Coast; Challenge for Both Insurers, Government
National News • July 27, 2007
Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: Another chaotic market -YELLOW STAR | AF | Jul 31, 2007, 12:12 pm |
| Wrong Focus | Iceman | Jul 31, 2007, 10:40 am |
| Read the Notation is IJ regarding S.C. Wind Pool | DWT | Jul 30, 2007, 2:32 pm |
| To the all or nothing crowd | Cassandra | Jul 30, 2007, 1:46 pm |
| Another chaotic market and profit opportunity | media mogul | Jul 30, 2007, 1:13 pm |
| RE: RE: Government intervention PEOPLE THE GOV IS US REMM | Jul 30, 2007, 11:54 am |
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| RE: Government intervention PEOPLE THE GOV IS US REMMBER | ed | Jul 30, 2007, 11:34 am |
| RE: Government intervention PEOPLE THE GOV IS US REMMBER | AUTHOR | Jul 30, 2007, 11:32 am |
| Government intervention PEOPLE THE GOV IS US REMMBER | Jul 30, 2007, 11:22 am |
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| Back to article | ||
Subject: To the all or nothing crowd
MAYBE, the governmentS (states) say, you want to insure here "insure: WIND, FLOOD and EQ" then those that want to will and those that don't, won't.
Have the GOVERNMENT provide reinsurance that is actuarilly sound and the market place can take a risk and underprice the government reinsurance.
People who live in a trailer park in Florida(or in the path of a Noreaster in MA,on the Wabash in In, or the San andreas fault in Ca), because that is what they can afford, need insurance so they can rebuild their lives and not look for a hand out when the next storm comes. if they can't afford insurance, then the government can give them a subsidy BEFORE THE STORM, rather than a hand out after the storm.
The insurance industry has not shown leadership in these problems, that is why law makers are coming up with the only solutions they know. and those law makers who do not support government intervention, just don't care about the dispossessed.
I believe in responsibility and I believe in help. I don't believe in victims!