– Congress didn’t have comprehensive P&L on NFIP before passing BW-12.
– GAO said NFIP Financials were undecipherable.
– INS. management Cos. (Not the Agents) were paid 30% to 60%(WYO) commissions, management, and Legal fees,, with No Risk .
– New Orleans uninsureds were rebuilt and still don’t have insurance. ( Behind Federal built Levee, that didn’t and won’t hold. Insureds pay the Losses for the uninsureds.)
– EPA & Wildlife Foundation directed writing BW-12.
How does Congress know NFIP is actually in Debt (from paying excessive Commissions, and paying to rebuild Uninsureds), without Comprehensive Financials?
Bill Price
The Big “I” is neutral on bills that will adversely affect their agents and their compensation levels. Sounds like the little “i” to me. PIA on the other hand opposes all bills that will result in commission cuts. Think I will send my dues money to the Association that is wiling to stand beside and behind me. Most importantly these cuts will adversely affect consumers.
Agreed. Also, I have had my first experience with private flood insurance. They want to pick and choose the best risks while denying or rejecting those that are most at risk. So, how does that work? All of those most likely to flood left to go through NFIP and those that are the least likely to flood the private insurers welcome with open arms. How does that solve the problem of huge payouts when floods occur? And they turn down some I really don’t understand.
Had private insurer turn down an X500 rated property.
—— X500 – Areas of 500-year flood; areas of 100-year flood with average depths of less than 1 foot or with drainage areas less than 1 square mile; and areas protected by levees from 100-year flood. An area inundated by 0.2% annual chance flooding.—
They turned him down because he was with 1000 feet of a wet weather branch that runs through the forest near his home. The stream is ankle deep and only runs when it rains a lot. I was told that they could refuse anyone they want to. So again…how does privatizing flood insurance help if the companies will not take on high flood risk?
Kudos to PIA for standing up for their members and insurance agents everywhere by opposing any and all cuts to the reimbursement rate. Don’t know how any organization that refers to itself as The Big “I” can remain neutral when their members compensation is under attack. That organization appears anything but big to me.
– Congress didn’t have comprehensive P&L on NFIP before passing BW-12.
– GAO said NFIP Financials were undecipherable.
– INS. management Cos. (Not the Agents) were paid 30% to 60%(WYO) commissions, management, and Legal fees,, with No Risk .
– New Orleans uninsureds were rebuilt and still don’t have insurance. ( Behind Federal built Levee, that didn’t and won’t hold. Insureds pay the Losses for the uninsureds.)
– EPA & Wildlife Foundation directed writing BW-12.
How does Congress know NFIP is actually in Debt (from paying excessive Commissions, and paying to rebuild Uninsureds), without Comprehensive Financials?
Bill Price
The Big “I” is neutral on bills that will adversely affect their agents and their compensation levels. Sounds like the little “i” to me. PIA on the other hand opposes all bills that will result in commission cuts. Think I will send my dues money to the Association that is wiling to stand beside and behind me. Most importantly these cuts will adversely affect consumers.
Agreed. Also, I have had my first experience with private flood insurance. They want to pick and choose the best risks while denying or rejecting those that are most at risk. So, how does that work? All of those most likely to flood left to go through NFIP and those that are the least likely to flood the private insurers welcome with open arms. How does that solve the problem of huge payouts when floods occur? And they turn down some I really don’t understand.
Had private insurer turn down an X500 rated property.
—— X500 – Areas of 500-year flood; areas of 100-year flood with average depths of less than 1 foot or with drainage areas less than 1 square mile; and areas protected by levees from 100-year flood. An area inundated by 0.2% annual chance flooding.—
They turned him down because he was with 1000 feet of a wet weather branch that runs through the forest near his home. The stream is ankle deep and only runs when it rains a lot. I was told that they could refuse anyone they want to. So again…how does privatizing flood insurance help if the companies will not take on high flood risk?
Kudos to PIA for standing up for their members and insurance agents everywhere by opposing any and all cuts to the reimbursement rate. Don’t know how any organization that refers to itself as The Big “I” can remain neutral when their members compensation is under attack. That organization appears anything but big to me.