Southeast News
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Florida Approves $224 Million Plan to Bolster State Catastrophe Fund
Southeast News • July 7, 2008
Florida residents might see an increase in property insurance rates because of a plan to bolster the Florida Hurricane Catastrophe Fund.
State officials last week approved a plan to spend $224 ...
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| Subject | Posted By | Posted On |
|---|---|---|
| State Cat Fund | Debby | Jul 8, 2008, 10:14 am |
| Again the Magic Wand of Legislation | Good Hands | Jul 7, 2008, 4:10 pm |
| RE: The sad part is...... | Robert | Jul 7, 2008, 1:45 pm |
| The Real Cost | Tom | Jul 7, 2008, 10:47 am |
| The sad part is...... | Gill Fin | Jul 7, 2008, 10:33 am |
| RE: Thought rates were going down? | Jace | Jul 7, 2008, 9:54 am |
| Thought rates were going down? | Confused | Jul 7, 2008, 8:27 am |
| Back to article | ||
Subject: The Real Cost
Welcome to the real world, where REAL reinsurance costs REAL money.
Everyone in the industry has known for the past few years that the Florida Legislature and governor have been playing a "smoke and mirrors" game, and more interested in industry-bashing sound bites rather than real solutions. But, you can't game the system forever.
By the way, the new HO insurers who appear to be offering coverage at lower prices? I suspect they are doing that by buying all or a major part of their reinsurance from the Fund, which, of course, doesn't have any money. Floridians better keep on praying for good luck and good weather.