Why is the industry hiding behind ” the government didn’t do anything”? Really, you don’t want the government involved in “solving” this for you. Yes the abuse is real – so YOU do something about it. It’s your dad gum industry, and from the sounds of the article there are many creative ideas being used and considered to get a handle on this. I’ve owned 5 businesses – I never even thought of seeking government help to solve my business decisions. PLEASE, we don’t need another government solution (think, healthcare, banking “reform”, auto bailouts, Amtrak, USPS, should I go on…). Pull up your big business big boy pants and come up with your own reforms, restrictions, incentives, investigations. You can do it!!
Common – if government has to approve all changes to policy forms and rates, then government needs to be involved in the solution, including changes to problematic statutes. In a state like Florida, the industry cannot get it done on their own. In other states with less restrictive regulations on rates and forms, your point is valid.
Common, Insurance is highly regulated in many states. If you’re writing on these boards, then you should already know this. FL & CA and other states are some of those. Prop. 103 in CA since 1988 has the Ins. Comm. having to approve not only rate increases, but also rate decreases, coverage additions, coverage restrictions, coverage deletions, etc. A P & C carrier can’t move or breathe without Comm. approval, which the Comm. is allowed up to a year to produce. Right or wrong, agree or disagree, that’s the way it is.
I see the abuse everyday. It went exponential about 2-1/2 years ago in my area (Tampa) and has continued since. I understand that there are bad contractors looking to rip off the insurance industry but I am surprised by the vast number of home owners that are lacking a moral compass and are willing to go along with the fraud.
Why is the industry hiding behind ” the government didn’t do anything”? Really, you don’t want the government involved in “solving” this for you. Yes the abuse is real – so YOU do something about it. It’s your dad gum industry, and from the sounds of the article there are many creative ideas being used and considered to get a handle on this. I’ve owned 5 businesses – I never even thought of seeking government help to solve my business decisions. PLEASE, we don’t need another government solution (think, healthcare, banking “reform”, auto bailouts, Amtrak, USPS, should I go on…). Pull up your big business big boy pants and come up with your own reforms, restrictions, incentives, investigations. You can do it!!
Common – if government has to approve all changes to policy forms and rates, then government needs to be involved in the solution, including changes to problematic statutes. In a state like Florida, the industry cannot get it done on their own. In other states with less restrictive regulations on rates and forms, your point is valid.
Common, Insurance is highly regulated in many states. If you’re writing on these boards, then you should already know this. FL & CA and other states are some of those. Prop. 103 in CA since 1988 has the Ins. Comm. having to approve not only rate increases, but also rate decreases, coverage additions, coverage restrictions, coverage deletions, etc. A P & C carrier can’t move or breathe without Comm. approval, which the Comm. is allowed up to a year to produce. Right or wrong, agree or disagree, that’s the way it is.
I see the abuse everyday. It went exponential about 2-1/2 years ago in my area (Tampa) and has continued since. I understand that there are bad contractors looking to rip off the insurance industry but I am surprised by the vast number of home owners that are lacking a moral compass and are willing to go along with the fraud.