The Florida OIR is given opportunities in every filing by the domestic property insurers to improve their ability to become profitable and create competition but at every opportunity they decline to take action.
all that doesn’t improve anything until they stop the AOB abuse and adopt actuarially sound rates. the market will not attract investment until rates allow for profit.
Or they could just stop insuring houses/buildings within a mile of the coast. That wouldn’t eliminate all of the exposure, but it would cut it down by about 50%.
Something the Florida based private insurers need to do is go national themselves. If they had as much property in the midwest covered as they did in Florida, they’d be better positioned to withstand a devastating Florida loss.
I think it is pathetic that Citizen and the insurance industries in FL are allowed to continuously increase premiums every single year with no return to consumers and homeowners in FL. It is so sad that they are pricing us right out of Florida. The stupid governor certainly doesn’t care about the citizens that live here. Only about Trump. Well maybe he can afford the constant increases but regular people who have lived here all of their lives cannot. We need lawyers and anyone who cares about the people to help the citizens of Florida. There is no justification for the constant increases in insurances here in FL. Especially Citizens or any windstorm when they pay nothing when a catastrophe happens.
No kidding…they paid $265,000 for that answer? Could have just sent one of us FL agents an e-mail and we could have handled that solution for free.
The Florida OIR is given opportunities in every filing by the domestic property insurers to improve their ability to become profitable and create competition but at every opportunity they decline to take action.
all that doesn’t improve anything until they stop the AOB abuse and adopt actuarially sound rates. the market will not attract investment until rates allow for profit.
Or they could just stop insuring houses/buildings within a mile of the coast. That wouldn’t eliminate all of the exposure, but it would cut it down by about 50%.
Something the Florida based private insurers need to do is go national themselves. If they had as much property in the midwest covered as they did in Florida, they’d be better positioned to withstand a devastating Florida loss.
I think it is pathetic that Citizen and the insurance industries in FL are allowed to continuously increase premiums every single year with no return to consumers and homeowners in FL. It is so sad that they are pricing us right out of Florida. The stupid governor certainly doesn’t care about the citizens that live here. Only about Trump. Well maybe he can afford the constant increases but regular people who have lived here all of their lives cannot. We need lawyers and anyone who cares about the people to help the citizens of Florida. There is no justification for the constant increases in insurances here in FL. Especially Citizens or any windstorm when they pay nothing when a catastrophe happens.