The capital markets have done a great job in the mortgage business. Do not always have blind trust in the market place. There are a lot of businesses that will do anything for a buck and have total disregard for the long term. The facts are that most of the population lives near and sometimes to near to the coast. They also live in river basins that flood and destroy. It seems to me that spreading the risk makes sense.
‘The Consortium program would allow multiple states to pool their catastrophic risk in hopes of achieving an economy of scale and risk diversity that will lead to a lower cost of reinsurance than states could achieve independently.’
What economy of scale? It seems to me insurance companies lately want to further and better underwrite in order to place specific risk with specific cost. Isn’t the Hillary/Nelson idea going backwards when it comes to placing risk?
And I find it hard to believe that anyone is lining up to reinsure that area anyway. Thanks to our politicos who are not afraid to throw their weight around on issues they know nothing about.
How can she truthfully say she will combat global terrorism when she and Bill pardoned the Puerto Rican FALN terrorists during the infamous “Midnight Pardons.” Hillary pardons terrorists, she won’t protect you against them. Google it and vote with your brain.
Another terrible idea – making insurance cheap simply defers facing the hard decisions about appropriate use of coastal areas. Not to mention spreading the cost of the Florida beachfront risk over states like Nebraska, thus taxing Nebraska residents for the risks the Floridians CHOOSE to accept.
Oh, and don’t tell me that Nebraska has tornados – of course they do, but on a bad day a tornado in Nebraska doesn’t cause one percent of the damage resulting from a Florida hurricane.
And also don’t tell me that we pay for it anyway through federal disaster declarations and the NFIP. The fact is, the coastal residents are trying to leverage the country to pay their way out of an insurance pricing crisis largely of their own making. I don’t often agree with the Prez on anything, but his threat to veto this bill is right on target.
Even if you like the idea, it’s tough to obtain support since the Florida Governor and Legislature have done everything wrong. If they were taking steps to 1. work with the industry 2. make coverage more available and affordable, and 3. mitigate risk, they would be in a much better position to garner support.
How can you repeatedly make decisions that drive insurers out and increase risk and expect states behaving more rationally to bail you out?
What does Nebraska have to do with people living along the seaboard? The majority of US Citizens live close to the coast. Would you have them all move further inland? Good Idea! The reality is that they are there and the cost of insurance is reaching prohibitive levels. Spreading the burden over the coastal states and allowing for them to spread the risk by using economy of scale does make sense. The president might speak to his brother before he makes a drastic decision.
To think that either of these airheads can be trusted to come up with a workable solution to a complex problem requires a leap of faith that is unfathomable. What makes it even more scary is the thought that they may have worked together on this one.
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Maybe I missed somthing in the article about terrorists. But these posts seem to be way off the mark of a discussion of the article.
Please keep your personal agendas, that have nothing to do with the articles, out of the discussion.
Thanks.
The capital markets have done a great job in the mortgage business. Do not always have blind trust in the market place. There are a lot of businesses that will do anything for a buck and have total disregard for the long term. The facts are that most of the population lives near and sometimes to near to the coast. They also live in river basins that flood and destroy. It seems to me that spreading the risk makes sense.
I’m with you. What I don’t understand is
this….
‘The Consortium program would allow multiple states to pool their catastrophic risk in hopes of achieving an economy of scale and risk diversity that will lead to a lower cost of reinsurance than states could achieve independently.’
What economy of scale? It seems to me insurance companies lately want to further and better underwrite in order to place specific risk with specific cost. Isn’t the Hillary/Nelson idea going backwards when it comes to placing risk?
And I find it hard to believe that anyone is lining up to reinsure that area anyway. Thanks to our politicos who are not afraid to throw their weight around on issues they know nothing about.
How can she truthfully say she will combat global terrorism when she and Bill pardoned the Puerto Rican FALN terrorists during the infamous “Midnight Pardons.” Hillary pardons terrorists, she won’t protect you against them. Google it and vote with your brain.
Another terrible idea – making insurance cheap simply defers facing the hard decisions about appropriate use of coastal areas. Not to mention spreading the cost of the Florida beachfront risk over states like Nebraska, thus taxing Nebraska residents for the risks the Floridians CHOOSE to accept.
Oh, and don’t tell me that Nebraska has tornados – of course they do, but on a bad day a tornado in Nebraska doesn’t cause one percent of the damage resulting from a Florida hurricane.
And also don’t tell me that we pay for it anyway through federal disaster declarations and the NFIP. The fact is, the coastal residents are trying to leverage the country to pay their way out of an insurance pricing crisis largely of their own making. I don’t often agree with the Prez on anything, but his threat to veto this bill is right on target.
Even if you like the idea, it’s tough to obtain support since the Florida Governor and Legislature have done everything wrong. If they were taking steps to 1. work with the industry 2. make coverage more available and affordable, and 3. mitigate risk, they would be in a much better position to garner support.
How can you repeatedly make decisions that drive insurers out and increase risk and expect states behaving more rationally to bail you out?
What does Nebraska have to do with people living along the seaboard? The majority of US Citizens live close to the coast. Would you have them all move further inland? Good Idea! The reality is that they are there and the cost of insurance is reaching prohibitive levels. Spreading the burden over the coastal states and allowing for them to spread the risk by using economy of scale does make sense. The president might speak to his brother before he makes a drastic decision.
To think that either of these airheads can be trusted to come up with a workable solution to a complex problem requires a leap of faith that is unfathomable. What makes it even more scary is the thought that they may have worked together on this one.
Sounds like Hillary is looking for votes in Florida, since she hasn’t done anything worth mentioning in New York.
When did the First Lady obtain the right to grant pardons?