At some point, the void in the market place overrides the political benefit of opposing insurance companies raising rates. Soon no one will be able to get any coverage or have their claims paid and they should blame Charlie Crist.
He cant veto the higher cost of reinsurancce fueling the recent rate increases. Tell this idiot Governor to look at his most recent dec page and tell me that another round of assessments was not just recently approved by his department.
The average homeowner pays about $200 in cat fees, figa fees on homes and autos related to hurricanes in 2005???
As well as companies going bust this year alone on top of Poe Financial with $700 million.
We can only pray the hurricane season is really mild. Otherwise there will be a whole lot of insuance companies out of business including the state owned one. Local tax payers instead of policyholders will pick up the bill, plus interest.
Crist is basically daring the legislature to override his veto so he can look like the people’s Governor. He is content to ignore reality because what’s really important to him is to figure out how to win the Senate race. It won’t happen.
I wonder if Crist even recognizes there is a problem, or if it’s just too politically inconvenient for him to address. Even if he does veto it, its negligent of him to offer no alternatives in the two years the legislature has tried to address the problem.
Do you think maybe he wants Florida to be in the gutter???
Crist figures he has nothing to worry about because if the big one hits FL the Feds (meaning, you, me and anybody else that pays taxes) will pick up the tab. And sadly, he is probably right.
Crist is a gambler and he likes the gambling industry as long as he has no money on the table. So far, he and the rest have been able to use Citizens as a life vest instead of an anchor.
From an agency perspective – Surplus lines carriers are already taking their pound of flesh on Commercial Property – Wonder how they are doing with their inflated rates and subordinate coverage – that is what the rest of the industry wants to do – hows it working for them?
Unfortunately, while the Feds will send some disaster relief money, they do not and will not fund losses that should be insured.
If insurers start going under because of a hurricane, it’s strictly a state problem. The various funds the state has established to backstop insurers are as woefully underfunded as are most of the insurers.
The state can issue bonds to try to fill in the holes, but they will be very expensive, and take years and years to repay.
All the extra costs eventually get charged back to policyholders via surcharges. Look at your current policies to see the surcharges just from prior storms. Now imagine multiples of those surcharges being added.
Crist doesn’t care, he would sell his soul to be a Senator. Remember during the presidential campaign McCain (briefly) considered him for his VP running mate? Crist, who has always vehemently opposed offshore drilling in Fl waters did a backflip, just because McCain favored more drilling. That’s called selling your soul…
Isn’t it interesting that McCain chose Sarah Palin over Crist?
How can Changing Charlie have so many different positions and never gets called on it? He will not stand for anything.
As someone posted already he is daring the legislature to override his veto…I say MAKE HIM DO IT.
You just have to wonder how does this kind of person ever get elected to anything but dog-catcher (with all due respect to dog-catchers)???
I think we are at 6 carriers now that have failed in the last year with NO hurricanes in 5 years. Hey dip stick Charlie, there is a problem here and you have not fixed it with your rate suppression. I do not want Citizens and I do not want anything to do with you or any thing you regulate, it fails everytime, just like all of your prior offices, they were horrible, which explains why you NEVER have run for re-election. You senate race is a pipe dream and it is you that is most dissapointing. If the rest of the house and senate have any balls they will over ride this veto. Floridians need solvent carriers, we have very few options and Citizens is not solvent as shown by all the assessments that we have for the next 6 or 7 years or more.
One of the main contributors to the current state of Citizens’ inadequate rates and the mess we are now in, are the moratoriums championed by Senator Jeff Atwater who is running for CFO.
Nice to know that we’re all paying (and will be paying for years to come)to support Senator Jeff’s political career everytime we renew an insurance policy in this state, and have been since 2004.
If you think Charlie panders to the voters, you haven’t seen anything yet.
I have watched my son as a teacher in Broward county work hard. Go back to school while his wife supported him to get his masters and then study nights and week ends to get a merit pay of a few thousand dollars to help support his family.
I know a lot of teachers. They put up with a lot and now they want to pull the rug from under them.
We need people to want to take up this important position in our country and not discourage them from doin so.
At some point, the void in the market place overrides the political benefit of opposing insurance companies raising rates. Soon no one will be able to get any coverage or have their claims paid and they should blame Charlie Crist.
He cant veto the higher cost of reinsurancce fueling the recent rate increases. Tell this idiot Governor to look at his most recent dec page and tell me that another round of assessments was not just recently approved by his department.
The average homeowner pays about $200 in cat fees, figa fees on homes and autos related to hurricanes in 2005???
As well as companies going bust this year alone on top of Poe Financial with $700 million.
Let’s hope they have the guts to override the veto this time.
We can only pray the hurricane season is really mild. Otherwise there will be a whole lot of insuance companies out of business including the state owned one. Local tax payers instead of policyholders will pick up the bill, plus interest.
Crist is basically daring the legislature to override his veto so he can look like the people’s Governor. He is content to ignore reality because what’s really important to him is to figure out how to win the Senate race. It won’t happen.
I wonder if Crist even recognizes there is a problem, or if it’s just too politically inconvenient for him to address. Even if he does veto it, its negligent of him to offer no alternatives in the two years the legislature has tried to address the problem.
Do you think maybe he wants Florida to be in the gutter???
Crist figures he has nothing to worry about because if the big one hits FL the Feds (meaning, you, me and anybody else that pays taxes) will pick up the tab. And sadly, he is probably right.
Crist is a gambler and he likes the gambling industry as long as he has no money on the table. So far, he and the rest have been able to use Citizens as a life vest instead of an anchor.
From an agency perspective – Surplus lines carriers are already taking their pound of flesh on Commercial Property – Wonder how they are doing with their inflated rates and subordinate coverage – that is what the rest of the industry wants to do – hows it working for them?
Unfortunately, while the Feds will send some disaster relief money, they do not and will not fund losses that should be insured.
If insurers start going under because of a hurricane, it’s strictly a state problem. The various funds the state has established to backstop insurers are as woefully underfunded as are most of the insurers.
The state can issue bonds to try to fill in the holes, but they will be very expensive, and take years and years to repay.
All the extra costs eventually get charged back to policyholders via surcharges. Look at your current policies to see the surcharges just from prior storms. Now imagine multiples of those surcharges being added.
Crist doesn’t care, he would sell his soul to be a Senator. Remember during the presidential campaign McCain (briefly) considered him for his VP running mate? Crist, who has always vehemently opposed offshore drilling in Fl waters did a backflip, just because McCain favored more drilling. That’s called selling your soul…
Isn’t it interesting that McCain chose Sarah Palin over Crist?
How can Changing Charlie have so many different positions and never gets called on it? He will not stand for anything.
As someone posted already he is daring the legislature to override his veto…I say MAKE HIM DO IT.
You just have to wonder how does this kind of person ever get elected to anything but dog-catcher (with all due respect to dog-catchers)???
I think we are at 6 carriers now that have failed in the last year with NO hurricanes in 5 years. Hey dip stick Charlie, there is a problem here and you have not fixed it with your rate suppression. I do not want Citizens and I do not want anything to do with you or any thing you regulate, it fails everytime, just like all of your prior offices, they were horrible, which explains why you NEVER have run for re-election. You senate race is a pipe dream and it is you that is most dissapointing. If the rest of the house and senate have any balls they will over ride this veto. Floridians need solvent carriers, we have very few options and Citizens is not solvent as shown by all the assessments that we have for the next 6 or 7 years or more.
One of the main contributors to the current state of Citizens’ inadequate rates and the mess we are now in, are the moratoriums championed by Senator Jeff Atwater who is running for CFO.
Nice to know that we’re all paying (and will be paying for years to come)to support Senator Jeff’s political career everytime we renew an insurance policy in this state, and have been since 2004.
If you think Charlie panders to the voters, you haven’t seen anything yet.
What dec page?? the great Gov does NOT own a home!
I have watched my son as a teacher in Broward county work hard. Go back to school while his wife supported him to get his masters and then study nights and week ends to get a merit pay of a few thousand dollars to help support his family.
I know a lot of teachers. They put up with a lot and now they want to pull the rug from under them.
We need people to want to take up this important position in our country and not discourage them from doin so.