I wonder what would happen if they offered 350 insurance companies $1,000,000 to re-enter the insurance marketplace in Florida. The odds are they would not consider because of excess regulation but it might be a way start. It would be a much better investment.
Citizens should do away with coverage c. it personal property coverage is important enough, people will buy coverage from a private carrier. until there is a burden to being with citizens (ie higher premium with JUA companies as an example), property owners in Florida are jaded enough by property insurance that they won’t move away from a “last resort” option that continues to offer competitive premium.
A lot of Citizens problems would go away if they didn’t appoint captives and kept the same base rates that they have now and sell an HO-8 that allowed you to purchase options a la carte until the policy resembled an HO-3. Less exposure, more revenue. Everybody wins.
So in other words, let’s penalize Mr Smith because he purchased a 1970 home in Dade county right?
Listen Citizens, it’s simple, very simple:
1. Stop the State Farm/Allstate non-sense.
2. Stop NEW policies from rushing through the door! If it’s a small Indy agency that doesn’t have other options/private carrier appointments, too bad! Such is the insurance life in Florida. A way must be found to stop a 2004 year built home, located 15 miles from the coast which every private company wants to finding its way to Citizens!
Please mail the check to…..
Most (though not all) independent agencies do everything in their power to keep policies out of Citizens. When you take large companies who shall remain nameless and allow them to drop policies into Citizens not only from their non-renewals but also entice them to write new with special auto discounts, you’re begging to have a huge problem.
Citizens MUST be limited to agencies with multiple carriers actively seeking new business and we need to have at least 3 declines before allowing a policy to go into Citizens. Unfortunately we have a very large company with a very large lobby pushing to allow their agents to continue to write with Citizens.
STATE FARM AGENTS PUSH CITIZENS BECAUSE THEY OFFER A 17% AUTO MULTILINE. THAT IS WHY MY TAKEOUT LISTS FROM FMAP SHOW HIGH % OF STATE FARM AGENTS PUSHING CITIZENS. THAT SHOULD BE BANNED.
Make Citizens the insurer of last resort, as originally intended. If you can get a policy from anyone else you can’t get a Citizens policy. All homes on the coast valued at 500,000 or more find an E&S policy. Make Citizens the most expensive premium in the state. Oh I forgot no one has the guts to do the right thing in Florida. Since any real solutions guarantee those proposing it wont be re-elected no worries. Everything will be just fine until a CAT 3 or greater hits and Citizens can only get about 20 billion of the 100 they need to pay claims. Florida insurance market = clown college
I wonder what would happen if they offered 350 insurance companies $1,000,000 to re-enter the insurance marketplace in Florida. The odds are they would not consider because of excess regulation but it might be a way start. It would be a much better investment.
Citizens should do away with coverage c. it personal property coverage is important enough, people will buy coverage from a private carrier. until there is a burden to being with citizens (ie higher premium with JUA companies as an example), property owners in Florida are jaded enough by property insurance that they won’t move away from a “last resort” option that continues to offer competitive premium.
A lot of Citizens problems would go away if they didn’t appoint captives and kept the same base rates that they have now and sell an HO-8 that allowed you to purchase options a la carte until the policy resembled an HO-3. Less exposure, more revenue. Everybody wins.
So in other words, let’s penalize Mr Smith because he purchased a 1970 home in Dade county right?
Listen Citizens, it’s simple, very simple:
1. Stop the State Farm/Allstate non-sense.
2. Stop NEW policies from rushing through the door! If it’s a small Indy agency that doesn’t have other options/private carrier appointments, too bad! Such is the insurance life in Florida. A way must be found to stop a 2004 year built home, located 15 miles from the coast which every private company wants to finding its way to Citizens!
Please mail the check to…..
Most (though not all) independent agencies do everything in their power to keep policies out of Citizens. When you take large companies who shall remain nameless and allow them to drop policies into Citizens not only from their non-renewals but also entice them to write new with special auto discounts, you’re begging to have a huge problem.
Citizens MUST be limited to agencies with multiple carriers actively seeking new business and we need to have at least 3 declines before allowing a policy to go into Citizens. Unfortunately we have a very large company with a very large lobby pushing to allow their agents to continue to write with Citizens.
STATE FARM AGENTS PUSH CITIZENS BECAUSE THEY OFFER A 17% AUTO MULTILINE. THAT IS WHY MY TAKEOUT LISTS FROM FMAP SHOW HIGH % OF STATE FARM AGENTS PUSHING CITIZENS. THAT SHOULD BE BANNED.
Make Citizens the insurer of last resort, as originally intended. If you can get a policy from anyone else you can’t get a Citizens policy. All homes on the coast valued at 500,000 or more find an E&S policy. Make Citizens the most expensive premium in the state. Oh I forgot no one has the guts to do the right thing in Florida. Since any real solutions guarantee those proposing it wont be re-elected no worries. Everything will be just fine until a CAT 3 or greater hits and Citizens can only get about 20 billion of the 100 they need to pay claims. Florida insurance market = clown college