It is rather obvious that we have an enormous problem with the industry. Most importantly there are many who have lost any quality of life and peace due to the inhumane practices due to gross greed. Their lives are destroyed.
In Florida, we are in an another hurricane season. What about the families, the elderly and so on? We will eventually collapse if we do not do something. Are all of you going to sit back and complain, watch and hope this won’t happen to you? What makes anyone more special than another? Take action before it is too late-decide how.
Here is a prediction:
(1) Large national carriers will halt writing new business citing the need to examine the new law and its ramifications before they are able to write additional exposures.
(2) Several carriers will “reinspect” their exposures to ensure that all homes are “insured to value”.
(3) Several carriers will cease to write homeowners policies … offering only actual cash value dwelling fire policies.
(3) Commerical agents will cease writing any new homeowners unless the insured is “tied” to a commerical account.
(4) Reinsurance contracts are frequently renegotiated in the summer. Several companies will attribute their moratorium to the increased cost of reinsurance.
In short, there will be a “shortage” of reputable companies offering a standard homeowners policy.
There will always be Poe Financial willing to write everything. Why not; they don’t have the problem that other carriers would have with reinsurance. Atlantic Prefferred reinsurors can non renew the treaty and not remain on anything that was written during its term!! Good deal for the reinsuers bad deal for the policyholders and FIGA!!!
As I have always said sense 92 Andrew, Tom Gallager is an A–H—. Always will be, and he wants to run the state, he and his cronnies have Florida in the hole 542,000,000. Cant wait to see the media jump on this when he starts to run
Parts of the law are good such as requiring the checklist that the insured must read and sign off on. It will be advisory in nature to them and the agent and company is covered down the road when they “insist” they were not told this or told that. Goodness, what will attorneys do if this works? Maybe they will be forced to earn an honest living for once.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
It is rather obvious that we have an enormous problem with the industry. Most importantly there are many who have lost any quality of life and peace due to the inhumane practices due to gross greed. Their lives are destroyed.
In Florida, we are in an another hurricane season. What about the families, the elderly and so on? We will eventually collapse if we do not do something. Are all of you going to sit back and complain, watch and hope this won’t happen to you? What makes anyone more special than another? Take action before it is too late-decide how.
Here is a prediction:
(1) Large national carriers will halt writing new business citing the need to examine the new law and its ramifications before they are able to write additional exposures.
(2) Several carriers will “reinspect” their exposures to ensure that all homes are “insured to value”.
(3) Several carriers will cease to write homeowners policies … offering only actual cash value dwelling fire policies.
(3) Commerical agents will cease writing any new homeowners unless the insured is “tied” to a commerical account.
(4) Reinsurance contracts are frequently renegotiated in the summer. Several companies will attribute their moratorium to the increased cost of reinsurance.
In short, there will be a “shortage” of reputable companies offering a standard homeowners policy.
Could have said it any better myself.
BN
There will always be Poe Financial willing to write everything. Why not; they don’t have the problem that other carriers would have with reinsurance. Atlantic Prefferred reinsurors can non renew the treaty and not remain on anything that was written during its term!! Good deal for the reinsuers bad deal for the policyholders and FIGA!!!
As I have always said sense 92 Andrew, Tom Gallager is an A–H—. Always will be, and he wants to run the state, he and his cronnies have Florida in the hole 542,000,000. Cant wait to see the media jump on this when he starts to run
So this is how Gallagher is getting all the Bush money for his campaign!!!!!
Parts of the law are good such as requiring the checklist that the insured must read and sign off on. It will be advisory in nature to them and the agent and company is covered down the road when they “insist” they were not told this or told that. Goodness, what will attorneys do if this works? Maybe they will be forced to earn an honest living for once.
Has the Insurance Journal become the mouth piece for Gallagher. Is Gallagher now GOD who stands over the Governor and Lawmakers to applaud them.
No not GOD, BIG GOVERNMENT.
JUST ASK THE ACLU!!! Government is above GOD!
GO BACK TO SLEEP FLORIDIOTS, EVERYTHING WILL BE JUST FINE………..
No, Tom Gallagher is not God . . . but Elliott Spitzer must be his idol.
RW