Texas / South Central News
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Homeowners Insurers to Pay 15% of 2004 Earnings to La. Citizens
Texas / South Central News • February 21, 2006
Insurance companies have until May to decide whether to hike their homeowners rates 15 percent in Louisiana, to make up for losses caused by Hurricanes Katrina and Rita.
The firms must pay 15 ...
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| Subject | Posted By | Posted On |
|---|---|---|
| rentals | Hal | Feb 27, 2006, 11:01 am |
| RE: Non insurance company bills everyone | Gary Dupree | Feb 27, 2006, 10:09 am |
| Non insurance company bills everyone | Just Watching with Amazement | Feb 22, 2006, 8:30 am |
| Back to article | ||
Subject: Non insurance company bills everyone
First, they establish an unfunded insurance scheme and call it an insurance company.
Second, they find to their apparent astonishment that the "company" cannot pay claims because their is no money.
Third, they bill the solvent real insurance companies as much as they legally can for the shortage with an allowance that they they can pass the shortfall to the conscientious insurance-buying public when they buy insurance from the real insurance company.
....perhaps they knew they would not get away with a plan to above-board stick it straight to the public. They needed the subterfuge.
I gotta ask:
Who used this plan as a campaign issue?