Shift in S. Fla. 'Line of Demarcation' Could Reduce Homeowners Rates
Southeast News • January 9, 2006
South Florida homeowners with properties located in a strip of land east of I-95 could have their policies reduced if a proposal is implemented to shift the line of demarcation as far east as U.S. ...
Insurance Journal is not responsible for the content of the message below.
Subject: I-95
Posted On: January 10, 2006, 9:48 am CST
Posted By: actuarial whiz bang
Comment:
1)I-95 does tend to stop all hurricanes.
2)The growth of Citizens has nothing to due with it's inadequate rates and broad terms and conditions.
3) judicially and legislatively creating coverage where it does not exist contractually has no negative impact on the marketplace competition.
4) unsound waterfront development has no impact on overall losses when hurricanes hit.
5) a culture that fosters fraud and corruption has no impact on insured losses.
5) waterfront property should not be considered "economical". Individuals with limited budgets should probably not be living on or very near the water. In fact living on the water might be consdired an extravagant und unecessary luxury but prudent people. Some Insurance carriers may not feel this is the best allocation of their scarce resources to insure people who don't seem to recognize that.
6) In a economic marketplace with limited or no competition overegulation does not tend to address the underlying mismatch of supply and demand.
7) governmental units created to hide or mask this issue will fail unless the supply and demand curves are brought more into equilibrium.
Subject: I-95
2)The growth of Citizens has nothing to due with it's inadequate rates and broad terms and conditions.
3) judicially and legislatively creating coverage where it does not exist contractually has no negative impact on the marketplace competition.
4) unsound waterfront development has no impact on overall losses when hurricanes hit.
5) a culture that fosters fraud and corruption has no impact on insured losses.
5) waterfront property should not be considered "economical". Individuals with limited budgets should probably not be living on or very near the water. In fact living on the water might be consdired an extravagant und unecessary luxury but prudent people. Some Insurance carriers may not feel this is the best allocation of their scarce resources to insure people who don't seem to recognize that.
6) In a economic marketplace with limited or no competition overegulation does not tend to address the underlying mismatch of supply and demand.
7) governmental units created to hide or mask this issue will fail unless the supply and demand curves are brought more into equilibrium.