Posted On: January 18, 2007, 4:30 pm CST

Posted By: JR

So the press thinks agents are getting rich off of higher premiums? Is anyone interested in buying insurance agencies these days. The answer is "Sure" for half of its value or owner financing. One thing is for sure, the cat fund will be expanded and opened up to carriers at a savings over what the reinsurance market currently is whacking us for. But to think that Citizens can do it cheaper than any real insurance company is baseless and laughable. They are the highest priced (or were)and the largest in the state (and will be for awhile) and they are about $2,400,000,000 in the hole from two storm years. Yet 2006 shows more than $7 billion in revenue. Sounds like book cooking to me. And does anyone wonder why our elected officials are doing everything they can to make Citizens the only place to shop? because they are making a killing in calm years and pass the buck onto Floridians in bad years in the form of assessments. This is the best business strategy anyone has ever come up with. The cash register is ringing like crazy but we foot the bill later when they say they have no money. You just gotta love politicians and the suckers that believe their lies.