Posted On: October 18, 2007, 8:35 am CDT

Posted By: Outside looking in

I think Mr Obvious summed up this whole discussion in one word...Shame.

As an American you have the right to live anywhere you own the land. As an American I should be able to reasonably expect that I'm not going to have to subsidize your poor selection of a building site.

It's the height of arrogance to think that you can build your house on sand with a signficant wind and hail exsposure and pay a premium more in line with a brick or frame house located in Chicago. Just like a high risk auto policy you are a high risk homeowners insured.

It's also crazy to think that numerous actuaries and risk modelers come up with loss cost projections in a certain range and some government bureacrat comes up with another and his is correct and the acuaries are wrong.

Mr Obvious is also correct in that this state insurance pool is nothing but a designed scheme to fail and the when it does after the first storm hits then it will end up being bailed out by the federal governement and we will all get to pay.

These people are a shameless lot incapable of understanding that their is no free lunch. If you are not paying an actuarially sound rate then someone else will have to make up the shortfall.

At least the beggar at the downtown corner represents himself "as is" rather than trying to hide behind some governement demagogue.