Posted On: February 8, 2008, 1:59 pm CST

Posted By: David

You ask what is a better solution for FL. Well, a free market might be a start. Yest the free market will have it's highs but competition eventually brings prices down. You might recall Crist chose to block all communication between the ins industry and the legislature in the drafting of House Bill 1A so Crist got himself in that position because he made poor decisions. Now he wants to blame everyone else but himself. HB1A is the same type of hastily drafted poor legislation that was recently passed for property taxes. Fact is that, HB1A limited the source of capital needed for hurricane risks which used to be completely provided by the free market throughout the whole world and now is mostly limited to the residents of FL. Haven't you asked yourself why is it that stable ins companies that are making great profits off the backs of FL homeowners have cancelled 100's of thousands of policies? Do you think that publicly traded companies really want to shrink in size? Do you really think that Hartford would rather lose $54 Mill in premium instead of giving up 15% of their profits? Or that Allstate droped $450 million in premium because they didn't want to give up 15% of their profits?
The insurance companies are nothing more that a free market enterprise so they go where the money goes - that's the way it is in America with every other industry. industry.