Debate Deepens After Florida OIR Seeks to Raise Citizens’ Coverage Limit on Homes

By | September 6, 2022

  • September 6, 2022 at 8:49 am
    Tim says:
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    So how much will DeSantis’ OIR pay me to set up a rating company that promises to give A+ ratings to all Florida domiciled companies? It’s gotta be worth serious bucks from the campaign fund. Heck, I’ll open an office in Florida and promise to not do anything “woke” while handing out sugar plums and ratings. There’s certainly a plethora of retired insurance examiners and actuaries living in Florida; I’ll put them all to work.

    What’s that you say??? Ratings have to be based on actual numbers and financial results in the market? You mean, like reality stuff?

    Sorry, Ron, you’re on your own…maybe AM Best and S&P will treat your companies better than Demotech. But somehow, I doubt it…

    • September 6, 2022 at 9:19 am
      PolarBeaRepeal says:
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      Market corrections will occur naturally, and hopefully promptly, with the exodus of weaker companies, per AMBest rating downgrades, and entry of new players with more capital; both capital and intellectual capacity of their staff and leaders.

      Patience and proper manners are in order, not sarcasm and unworkable suggestions.

  • September 6, 2022 at 8:53 am
    Tiger88 says:
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    This is a “pay me now or pay me later situation. The HO biz has completely collapsed so either you leave policies with companies on the brink of extinction, pick up the losses through the FL guarantee fund and absorb the policies into Citizens or…just move it there now. Either way, the citizens of FL are going to pick up the tab.

    • September 7, 2022 at 8:22 am
      Mr. Solvent says:
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      An extreme expansion of the cat fund would accomplish this without exposing taxpayers in years that reinsurance is readily available on the private market. It’s still just a band aid, but it’s certainly a better scenario than letting carriers go belly up or putting everything with Citizens.

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