Florida Urged to Hike All Citizens Property Insurance Rates By 10%

October 22, 2009

  • October 22, 2009 at 9:02 am
    Mr. Solvent says:
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    10% doesn’t even begin to plug the holes in Citizens. Many coastal counties need as much as 45% to make the rates sound. So what do we do…cross our fingers and hope we don’t get a storm in the next 5 years? Insanity!

  • October 22, 2009 at 9:37 am
    J R says:
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    What you see is the result of a dept of insurance going to the extreme in order to keep the pretty boy guv off of their 6 o’clock. They allow a 14.6% increase on homeowners for Universal but only want to allow less than 1/2 of that for Citizens homeowners. The guv wants to be the next US senator and can’t get elected if he admits that Citizens if seriously underfunded and rates have to seriously increase.

    They need to let Citizens go back to what it was designed to be. The company of last resort instead of the company of first choice as their rates are among the lowest.

    Will not happen as this is the shinning example as what goverment health care would be like. Underfunded, a department running it that is scared to admit major flaws and taking everyone and being in chaos.

  • October 22, 2009 at 10:06 am
    rater says:
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    “Citizens’ own actuaries have acknowledged rates would have to go up about 40 percent on average on residences, more than 10 percent on commercial residential properties and as much as 140 percent on wind-only commercial property policies to reach proper funding for its exposure”. To ignore this is irresposnible at the OIR. 10% across the board is necessary.

  • October 22, 2009 at 1:43 am
    Ben Dover says:
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    These politicians are such A-holes! Florida is one good storm away from a federal bailout, and still will be even with the 10% increase. I don’t understand how increasing the 3 areas as described in the article by less than 10% in each area will result in a 10% increase. Just raise the rates. I would rather pay another couple of hundred bucks for my insurance now, than have to pay a few thousand dollar assesment for several years in a row when the big one hits!

  • October 22, 2009 at 2:11 am
    Bob Fox says:
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    They KNOW the taxpayers are actually backing this joke of an insurer.

    So, be a hero to coastal homeowners by artificially reducing premiums because Buffett has already promised a layer of coverage and the Feds are standing behind Florida as said.

    That State is ONE storm from being the next Obamination subsidy. Let’s see if Obamination responds as well as Bush did on Katrina and was not allowed in by the idiot mayor and governor of LA. Bush got blamed for local incompetence. Let’s see if the big O shows up with our cash? Of course he will as we can just PRINT more???

    Get this lying cheat bribery king out of the White House…



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