God Bless their hearts. It will be interesting to see if they U-turn out of here when they realize the issues S.B. 76 was supposed to remediate are still very present.
Good luck, my friends. If you can make a new company work, then you’re a better man than I.
The problem is not that the issues are still present but that the parasites, crooks and grifters are still present and they ain’t going anywhere. The various malefactors are going milk that cow until they kill it. It’s in their very nature to do so. S.B. 76 is a joke to the parasites who are separating the people from their money. The kind of reform needed to reverse things is so severe and so punitive that I doubt Floridians can stomach it, so on we go to general insolvency.
It will sadly not be clear to the public and the legislature how dire the situation is until the market hardens to the point where a majority of Floridians can no longer qualify or afford HO policies. Even then, as long as Citizens is still standing, they still probably won’t care. Have a bad feeling it will take the majority of regional carriers AND Citizens going insolvent for the public to finally take notice.
Right on it Vox. The real problem isn’t the specific issue(s) but rather the unethical and dishonest “professional” crowd that parks their corrupt a$$e$ in FL. They make allies with other “professionals” and run the table on the $ until they are shut down and move on to another scam. Right now, it’s the new roof deal. Before it was sinkhole, mold, water damage but there will be another scam after almost everyone in FL has a new roof on their house. The FL Office of Insurance Regulation just isn’t serious about ending large scale insurance fraud. All of these areas of fee generation are not covered by a policy (wear, tear, marring, cracking, leaking, etc.) but attorneys have pushed the lines, made fraudulent allegations, dared insurance companies to get into a lawsuit and essentially changed the whole dynamic of HO payouts. Until or unless that is stopped, it just won’t be a healthy or profitable environment in FL.
Thank you Tiger 88 , for saying the truth and not beating around the bush. The Florida Legislature needs to open their eyes but they don’t want to, they are looking the other way and the situation is only going to get worse.
No idea why you’d invest in this area. There are so many better investment options out there. FL is one major hurricane away from a majority of insurers going insolvent, and even then its just a slow bleed to insolvency for most with all the roof and AOB ‘claims’. I suppose the only way to do it is use other people’s capital – or debt – pay yourself a fantastic salary as CEO and ride the sinking ship? Otherwise, if its you putting up the capital or investing in a FL insurer – you are a fool.
God Bless their hearts. It will be interesting to see if they U-turn out of here when they realize the issues S.B. 76 was supposed to remediate are still very present.
Good luck, my friends. If you can make a new company work, then you’re a better man than I.
The problem is not that the issues are still present but that the parasites, crooks and grifters are still present and they ain’t going anywhere. The various malefactors are going milk that cow until they kill it. It’s in their very nature to do so. S.B. 76 is a joke to the parasites who are separating the people from their money. The kind of reform needed to reverse things is so severe and so punitive that I doubt Floridians can stomach it, so on we go to general insolvency.
Well said. I couldn’t agree more.
It will sadly not be clear to the public and the legislature how dire the situation is until the market hardens to the point where a majority of Floridians can no longer qualify or afford HO policies. Even then, as long as Citizens is still standing, they still probably won’t care. Have a bad feeling it will take the majority of regional carriers AND Citizens going insolvent for the public to finally take notice.
Right on it Vox. The real problem isn’t the specific issue(s) but rather the unethical and dishonest “professional” crowd that parks their corrupt a$$e$ in FL. They make allies with other “professionals” and run the table on the $ until they are shut down and move on to another scam. Right now, it’s the new roof deal. Before it was sinkhole, mold, water damage but there will be another scam after almost everyone in FL has a new roof on their house. The FL Office of Insurance Regulation just isn’t serious about ending large scale insurance fraud. All of these areas of fee generation are not covered by a policy (wear, tear, marring, cracking, leaking, etc.) but attorneys have pushed the lines, made fraudulent allegations, dared insurance companies to get into a lawsuit and essentially changed the whole dynamic of HO payouts. Until or unless that is stopped, it just won’t be a healthy or profitable environment in FL.
Thank you Tiger 88 , for saying the truth and not beating around the bush. The Florida Legislature needs to open their eyes but they don’t want to, they are looking the other way and the situation is only going to get worse.
No idea why you’d invest in this area. There are so many better investment options out there. FL is one major hurricane away from a majority of insurers going insolvent, and even then its just a slow bleed to insolvency for most with all the roof and AOB ‘claims’. I suppose the only way to do it is use other people’s capital – or debt – pay yourself a fantastic salary as CEO and ride the sinking ship? Otherwise, if its you putting up the capital or investing in a FL insurer – you are a fool.
Large, national, experienced carriers don’t want to be here. That should be the first clue.