“although significant claims have continued to be paid for the 2004 and 2005 hurricanes”
why oh why, can the state require future policy holders still pay on claims from before their entry into the market? if this is not insolvency, the state should be bankrupt. if was a policy holder, i would sue the state for using my current funds for out-of-date claims the state still has to resolve. you wonder why state farm left! you wonder why the florida casualty (state-run insurance) is trying to even take increases. i bet if folks realize what the govenor is doing, he’d be out of office. suprised he’s not been impeached! this g’vnor has no clue about budget and protection of his residents. of course, neither does his legislative body (FL CONGRESS). wonder if they have the same troubles like the fed’s… it’s getting ridiculous…
Let the carriers charge what they want and buy reinsurance elsewhere. Florida cannot afford this if we have a major storm the State would be bankrupt. We will look like California without the revenues. Push for federal review of adding a windstorm option to the Federal Flood policy for a high premium and give tax credits to carriers who write the windstorm coverage in coastal states and in particular coastal counties.
Why must you get on this board and rant about socialized wind insurance. Haven’t you learned enough from the flood program lapsing twice this year? You want that for windstorm as well? Maybe it will lapse right before the big one hits Miami directly. That’s in the best interest of the state, the policy holders, and the insurance companies…
The story should be re-titled.
Most Floridians don’t have a clue about this…
Exactly correct. We need to eliminate the profession and replace it with mandatory binding arbitration.
“although significant claims have continued to be paid for the 2004 and 2005 hurricanes”
why oh why, can the state require future policy holders still pay on claims from before their entry into the market? if this is not insolvency, the state should be bankrupt. if was a policy holder, i would sue the state for using my current funds for out-of-date claims the state still has to resolve. you wonder why state farm left! you wonder why the florida casualty (state-run insurance) is trying to even take increases. i bet if folks realize what the govenor is doing, he’d be out of office. suprised he’s not been impeached! this g’vnor has no clue about budget and protection of his residents. of course, neither does his legislative body (FL CONGRESS). wonder if they have the same troubles like the fed’s… it’s getting ridiculous…
Let the carriers charge what they want and buy reinsurance elsewhere. Florida cannot afford this if we have a major storm the State would be bankrupt. We will look like California without the revenues. Push for federal review of adding a windstorm option to the Federal Flood policy for a high premium and give tax credits to carriers who write the windstorm coverage in coastal states and in particular coastal counties.
Sarah,
Why must you get on this board and rant about socialized wind insurance. Haven’t you learned enough from the flood program lapsing twice this year? You want that for windstorm as well? Maybe it will lapse right before the big one hits Miami directly. That’s in the best interest of the state, the policy holders, and the insurance companies…
You have some good thoughts, but I would advise a return to Grammar School before you post another comment.