Shut the quasi governmental company down! Let carriers charge what they want and get out of the way and let the market determine the appropriate rate. I know that this is a stretch for some to imagine in the day of liberal socialist leadership. But the market always knows best!
Tarrasi, you must be a liberal because you state no logical opinion, no statement of fact, and respond only with an emotional outburst of factless and baseless ridicule. Liberals are very simple minded people who do not understand that an argument is not won when you just call people names. Arguing with a liberal is like playing chess with a pigeon, no matter how much you have studied and know the game, the pigeon will always jump up in the middle of he board knock over all the pieces, crap in the middle of the board and somehow strut around victorious! Tarrasi, you are the pigeon!
How does likening Tarrasi to a pigeon make you any different? Now, stating that Tarrasi’s response was an illogical emotional outbursts with no basis in fact is absolutely correct and I agree with you wholly, but being the “logical” conservative you are you should have left your comment to that in order to prove your point. Going on with your own opinion and emotional outburst calling them a “pigeon” just proved that you are no better at rational thinking than they are. In addition, grouping all “liberals” as “simple minded people” and putting them in the category of Tarrasi’s “pigeonness” is a LIBERAL train of thought in and of itself – no room for evaluating the individual. Practice what you preach. ;)
This is the same old B S that’s been going on for years. Florida is a problem state for property insurance and this will never change. The morons that live there want cheap property insurance and want everything covered. The political morons in this state don’t want to understand that it takes “adequate premiums” to pay for claims. Florida is the biggest welfare state insofar as property insurance is concerned. The people who live there need to be educated on how insurance works, pay their high premiums and shut up. If they don’t like the premiums, move to another state that has less natural disasters.
“said Artiles, If a storm were to hit tomorrow, south Florida is going to pay the assessments, not north Florida.”
What?
Rep. Artiles needs to brush up on how Citizen’s assessments work as his above statement is misleading as it indicates some Citizens policyholders in North Florida won’t be assessed. That’s simply not true.
If Citizens has a deficit following a large or multiple events, ALL policyholders will get a ONE-TIME assessment (tax) up to 45% in the TIER1 (Policyholder) Assessments. Citizens policyholders will also get a ANNUAL assessment (tax) up to 10% per year in the TIER3 (Emergency) Assessent.
I think Artiles meant that there is a higher concentration of Citizens policies in South Florida and at higher rates, therefore South Florida will be paying the majority should an assessment become needed.
As Citizens raises rates and cuts coverage, it brings another issue into play. How will a State Farm agency cover the gaps being created if they can only use State Farm or Citizens? Other independent agents better pay attention as well, or raise their E&O limits.
I would bet that nobody would ever get assessed. After a major disaster, the government is going to hit people with a 45% assessment. They don’t have the guts to do that.
Don’t get me wrong, there should be assessments, the government just won’t follow through on them.
Actually, if you look back, they assess either on a “regular” or “emergency” basis. I lived in Florida in 2004 and 2005, and while I had my insurance with a traditional carrier, I received surcharges on my own policies premium of 6.08% and 6.77% to “recapitalize” Citizens in each of those years, despite never being insured by Citizens. I was a “voluntary market” surcharge victim. And the way the law is written, if I chose not to pay the Citizens assessment, my carrier was legally obliged to cancel my policy. The attached shows the history of their various assessments. http://www.myfloridacfo.com/ICA/docs/AssessmentStudy.pdf
So, Hillsborough Agent – it is not about guts, because the folks running Citizens do not face re-election. Citizens will readily pass through whatever assessments that they can convince the FLA Gov’t is necessary.
What ever happened to spread of risk and the law of large numbers? Homeowners insurance in any coastal area is no longer an insurance contract. Its being priced more like an annuity.
My, My. Let’s see how insurance reacts after the devastations from all of the wild fires in the west. Oh and with the vegetation all gone we know there is going to be flooding once it does start raining. And then there is always earthquake proned areas. And let’s not forget tornado alley. If you look at the past 5 years, as far as disasters go, they really have not been in Florida. There are perils all over the place. And that is why the principles of insurance are important. Spreading the cost to many to lessen the cost to one. No one has the appetite for the Gulf States since Katrina. The reinsurers are dictating the amount of exposures for some companies and even if these people leave Citizens where would they go? You read every day about one company or another nonrenewing 100’s even 1000’s of policy holders. Do you really think one company is going to take 500,000 risks? And it is never as simple as move to another place. You have to go where you find work. It takes alot of money to pack up and move somewhere else. And it isn’t fair to lump all liberals in with the ignorant ones. Some of us do have intelligent points of view and can even see the writing on the wall. Sometimes things aren’t as black and white as conservatives would like think they are. There is no simple solution and that is the problem. Our economy stinks. People are desparate. And big companies keep wanting big profits–and need them to create and maintain jobs. We are stuck in a vicious cycle. It is a powder keg just waiting for a spark. But if people would just try to stay calm and get by the best way they can, hold onto what they have, sooner or later things will turn around. You may have to pay more now. You may have to sacrifice. Companies may have to sacrifice. We may have to elect a new leader. But something will change and then things will go back the other way–it always does because in the end, it is a symbiotic relationship…insurance cannot exist without it’s policy holders and people cannot be financially at ease without insurance.
Hillsborough, don’t be so sure that the assessment is not coming, the carriers who would be asked to collect any deficit through premuim assessments like what happened in 04, will not do so because of the written agreement that citizens is responsible to assess it’s policyholders in the event of any future deficit. I really think it is prudent to not ever state your opinion to any policyholder, because you could very well be wrong in your opinion as the policies are written with the assess ability included in their policy language.
Hills, I would agree that it’s likely the politicians would “forgive” the assessements. Let’s face it, it would take a large catastrophe to create the assessments and Citizens policyholders would certainly create some noise about the timing, fairness, and lack of understanding of the assessments. Legislators don’t even want to raise Citizen’s rates much less hit people with large bills AFTER a devasting storm. I hope we’re not counting on assessments as potential revenue.
Shut the quasi governmental company down! Let carriers charge what they want and get out of the way and let the market determine the appropriate rate. I know that this is a stretch for some to imagine in the day of liberal socialist leadership. But the market always knows best!
Bill how do you say idiot in your language>>>>
Tarrasi, you must be a liberal because you state no logical opinion, no statement of fact, and respond only with an emotional outburst of factless and baseless ridicule. Liberals are very simple minded people who do not understand that an argument is not won when you just call people names. Arguing with a liberal is like playing chess with a pigeon, no matter how much you have studied and know the game, the pigeon will always jump up in the middle of he board knock over all the pieces, crap in the middle of the board and somehow strut around victorious! Tarrasi, you are the pigeon!
Sarah,
How does likening Tarrasi to a pigeon make you any different? Now, stating that Tarrasi’s response was an illogical emotional outbursts with no basis in fact is absolutely correct and I agree with you wholly, but being the “logical” conservative you are you should have left your comment to that in order to prove your point. Going on with your own opinion and emotional outburst calling them a “pigeon” just proved that you are no better at rational thinking than they are. In addition, grouping all “liberals” as “simple minded people” and putting them in the category of Tarrasi’s “pigeonness” is a LIBERAL train of thought in and of itself – no room for evaluating the individual. Practice what you preach. ;)
This is the same old B S that’s been going on for years. Florida is a problem state for property insurance and this will never change. The morons that live there want cheap property insurance and want everything covered. The political morons in this state don’t want to understand that it takes “adequate premiums” to pay for claims. Florida is the biggest welfare state insofar as property insurance is concerned. The people who live there need to be educated on how insurance works, pay their high premiums and shut up. If they don’t like the premiums, move to another state that has less natural disasters.
If they want cheaper insurance than they should learn to use their insurance policies correctly . Not as a maintenance plan.
Or perhaps move to a less catastrophe prone area.
“said Artiles, If a storm were to hit tomorrow, south Florida is going to pay the assessments, not north Florida.”
What?
Rep. Artiles needs to brush up on how Citizen’s assessments work as his above statement is misleading as it indicates some Citizens policyholders in North Florida won’t be assessed. That’s simply not true.
If Citizens has a deficit following a large or multiple events, ALL policyholders will get a ONE-TIME assessment (tax) up to 45% in the TIER1 (Policyholder) Assessments. Citizens policyholders will also get a ANNUAL assessment (tax) up to 10% per year in the TIER3 (Emergency) Assessent.
I think Artiles meant that there is a higher concentration of Citizens policies in South Florida and at higher rates, therefore South Florida will be paying the majority should an assessment become needed.
As Citizens raises rates and cuts coverage, it brings another issue into play. How will a State Farm agency cover the gaps being created if they can only use State Farm or Citizens? Other independent agents better pay attention as well, or raise their E&O limits.
I would bet that nobody would ever get assessed. After a major disaster, the government is going to hit people with a 45% assessment. They don’t have the guts to do that.
Don’t get me wrong, there should be assessments, the government just won’t follow through on them.
Actually, if you look back, they assess either on a “regular” or “emergency” basis. I lived in Florida in 2004 and 2005, and while I had my insurance with a traditional carrier, I received surcharges on my own policies premium of 6.08% and 6.77% to “recapitalize” Citizens in each of those years, despite never being insured by Citizens. I was a “voluntary market” surcharge victim. And the way the law is written, if I chose not to pay the Citizens assessment, my carrier was legally obliged to cancel my policy. The attached shows the history of their various assessments.
http://www.myfloridacfo.com/ICA/docs/AssessmentStudy.pdf
So, Hillsborough Agent – it is not about guts, because the folks running Citizens do not face re-election. Citizens will readily pass through whatever assessments that they can convince the FLA Gov’t is necessary.
you’re assuming that the legislature wouldn’t step in with an emergency measure putting off the assessments. That’s what I think would happen.
What ever happened to spread of risk and the law of large numbers? Homeowners insurance in any coastal area is no longer an insurance contract. Its being priced more like an annuity.
My, My. Let’s see how insurance reacts after the devastations from all of the wild fires in the west. Oh and with the vegetation all gone we know there is going to be flooding once it does start raining. And then there is always earthquake proned areas. And let’s not forget tornado alley. If you look at the past 5 years, as far as disasters go, they really have not been in Florida. There are perils all over the place. And that is why the principles of insurance are important. Spreading the cost to many to lessen the cost to one. No one has the appetite for the Gulf States since Katrina. The reinsurers are dictating the amount of exposures for some companies and even if these people leave Citizens where would they go? You read every day about one company or another nonrenewing 100’s even 1000’s of policy holders. Do you really think one company is going to take 500,000 risks? And it is never as simple as move to another place. You have to go where you find work. It takes alot of money to pack up and move somewhere else. And it isn’t fair to lump all liberals in with the ignorant ones. Some of us do have intelligent points of view and can even see the writing on the wall. Sometimes things aren’t as black and white as conservatives would like think they are. There is no simple solution and that is the problem. Our economy stinks. People are desparate. And big companies keep wanting big profits–and need them to create and maintain jobs. We are stuck in a vicious cycle. It is a powder keg just waiting for a spark. But if people would just try to stay calm and get by the best way they can, hold onto what they have, sooner or later things will turn around. You may have to pay more now. You may have to sacrifice. Companies may have to sacrifice. We may have to elect a new leader. But something will change and then things will go back the other way–it always does because in the end, it is a symbiotic relationship…insurance cannot exist without it’s policy holders and people cannot be financially at ease without insurance.
A broken tile and water damage have nothing to do with a Catastophe
in response to perhaps move to a less catastrophe prone area.
Hillsborough, don’t be so sure that the assessment is not coming, the carriers who would be asked to collect any deficit through premuim assessments like what happened in 04, will not do so because of the written agreement that citizens is responsible to assess it’s policyholders in the event of any future deficit. I really think it is prudent to not ever state your opinion to any policyholder, because you could very well be wrong in your opinion as the policies are written with the assess ability included in their policy language.
I would NEVER tell a customer that. I’m not a moron. I’ll say it anonymously on an industry website but not to a customer.
Hills, I would agree that it’s likely the politicians would “forgive” the assessements. Let’s face it, it would take a large catastrophe to create the assessments and Citizens policyholders would certainly create some noise about the timing, fairness, and lack of understanding of the assessments. Legislators don’t even want to raise Citizen’s rates much less hit people with large bills AFTER a devasting storm. I hope we’re not counting on assessments as potential revenue.