Southeast News
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Fla. Senate Makes Recommendations on Property Insurance Accountability
Southeast News • March 14, 2008
The Florida Senate Select Committee on Property Insurance Accountability wants to restrict reinsurance costs in rates and strengthen the excess profits law among other things.
Co-chaired by Sen. ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Answers and Comments | Actuary | Mar 17, 2008, 11:34 am |
| RE: RE: A prediction - excess profits | Ratemaker | Mar 17, 2008, 7:49 am |
| RE: RE: They forgot to add an excess losses law | Wishful Thinker | Mar 15, 2008, 4:42 am |
| RE: They forgot to add an excess losses law | Lori | Mar 14, 2008, 5:33 pm |
| state cap insurance rates | jake38 | Mar 14, 2008, 1:58 pm |
| RE: A prediction | caffiend | Mar 14, 2008, 1:47 pm |
| A prediction | caffiend | Mar 14, 2008, 1:44 pm |
| RE: RE: Property Insurance | Mark | Mar 14, 2008, 1:24 pm |
| RE: Property Insurance | Mark | Mar 14, 2008, 1:20 pm |
| RE: Hunter Heaven | ES | Mar 14, 2008, 1:10 pm |
| Property Insurance | two cents worth | Mar 14, 2008, 12:45 pm |
| Hunter Heaven | Nobody Important | Mar 14, 2008, 12:03 pm |
| They forgot to add an excess losses law | Steve | Mar 14, 2008, 11:20 am |
| Back to article | ||
Subject: RE: Property Insurance
What line of business are you in? How would you like the government to tell you what you have to sell, how much you can charge for it, and the amount of profit you are allowed to make?
Let's apply this theory to your job. You must provide the same services to everyone in your state for the exact same cost per unit, no matter the overhead involved in each sale. Your pricing will be approved by some group of politicians, and your profits will be examined annually, with deductions taken by the state if determined to be excessive. No allowance for losses will be considered.