Geeslin: Too Early to Tell How Much Ike Will Ultimately Cost

September 25, 2008

  • September 25, 2008 at 3:06 am
    Tadpole says:
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    Florida’s 04/05 wind season teaches that firmer rates are on the way. Texas needs em’ before property insurers dive head first into an empty pool. I hear those insuring interests in the energy sector are going to take it squarely on the chin this time.

  • September 26, 2008 at 9:29 am
    hgeary says:
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    Since the government is usually stuck funding much of the natural disasters, why not allow them to take over insuring these types of risks in hazardous locations? This way, at least they would be generating money coming in, instead of just always paying out. This would also help keep the general publics insurance rates down since the insurers would not be subsidizing their losses through rate increases.

  • September 30, 2008 at 8:38 am
    Dave says:
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    *Since the government is usually stuck funding much of the natural disasters, why not allow them to take over insuring these types of risks in hazardous locations?*
    This has already happened with TWIA. If you like to live in hazardous locations or if you like subsidizing others in hazardous locations then TWIA is the way to go!

    *This way, at least they would be generating money coming in, instead of just always paying out.*
    TWIA already “generates money coming in” through the premium it collects from those who live in hazardous locations.

    *This would also help keep the general publics insurance rates down since the insurers would not be subsidizing their losses through rate increases.*
    Actually the “general insurance rate” would be too low for those who put their property in harm’s way but not to worry, everyone else in the state will subsidize them through higher taxes and insurance rates. Good luck asking those in San Antonio or Dallas to subsidize your coastal location. They are hurting from the downturn in the economy and don’t have money to burn on financing the insurance costs of properties that can be blown away by mother nature.



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