I think its stupid for our federal government to even think of a disaster fund. Look what a mess they made out of N.O. What we need in Florida is a better insurance commissioners and oversite of the insurance companies and their policies. Less politics and lobbyist.
The insurance business has become a pick and chose sytem . They drop coverage on
older homes of retirees simply to reduce their risk and these are the very customers that paid them for the 30 previous years without claims. If a company has no risk then what is the point of insurance?
Since the bulk of the problem arises from land use issues it seems silly to expect the private market to make good for allowing development in areas so prone to a variety of problems. To actually charge the owners of these properties rates appropriate to the risk would be impossible. Unless you spread the cost of the bad risk over the entire market and essentially subsidize irrational development of coastal areas and similar problems private insurance cannot be the solution.
If the government steps into this they also need to be able to say but you can\’t rebuild in a flood plain or on a fault line or on the coast.
please enlighten me on the GNP contribution of our coastline. Other than tourism (certianly not vital to national economy) and seafood what has to be located on sand.
While I would concede that cities such as Boston and New York are indispensable I think we all know that this bill is driven by stooges that choose to live a a giant sandbar that moother nature restores to it\’s virginal state every so often. it really serves no useful purpose other than wanting to live in some tropical paradise.
Like most Americans I have no problem if you want to live there. However, if you are that foolish then pay for it with your own money. Living in the midwest I pay for insurance to cover tornados and hail. I don\’t expect californias to subsidize me for these exposures. In return I ask not to pay for thier EQ exposure or some fools wind exposure on the water.
This system was tried in past. It was called socialism. It worked poorly then and will work poorly again.
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I guess I should start an insurance company, and not cover anything! Evidently it is legal!
I think its stupid for our federal government to even think of a disaster fund. Look what a mess they made out of N.O. What we need in Florida is a better insurance commissioners and oversite of the insurance companies and their policies. Less politics and lobbyist.
The insurance business has become a pick and chose sytem . They drop coverage on
older homes of retirees simply to reduce their risk and these are the very customers that paid them for the 30 previous years without claims. If a company has no risk then what is the point of insurance?
Since the bulk of the problem arises from land use issues it seems silly to expect the private market to make good for allowing development in areas so prone to a variety of problems. To actually charge the owners of these properties rates appropriate to the risk would be impossible. Unless you spread the cost of the bad risk over the entire market and essentially subsidize irrational development of coastal areas and similar problems private insurance cannot be the solution.
If the government steps into this they also need to be able to say but you can\’t rebuild in a flood plain or on a fault line or on the coast.
Mike,
please enlighten me on the GNP contribution of our coastline. Other than tourism (certianly not vital to national economy) and seafood what has to be located on sand.
While I would concede that cities such as Boston and New York are indispensable I think we all know that this bill is driven by stooges that choose to live a a giant sandbar that moother nature restores to it\’s virginal state every so often. it really serves no useful purpose other than wanting to live in some tropical paradise.
Like most Americans I have no problem if you want to live there. However, if you are that foolish then pay for it with your own money. Living in the midwest I pay for insurance to cover tornados and hail. I don\’t expect californias to subsidize me for these exposures. In return I ask not to pay for thier EQ exposure or some fools wind exposure on the water.
This system was tried in past. It was called socialism. It worked poorly then and will work poorly again.