Were would homeowners find windstorm/hurricane coverage that is required by all mortgage lenders, in the event that they can not obtain that coverage in the standard market? It sounds like the dissolution of Citizens would exclude some homeowners from keeping their agreement with their lender and prohibit prospective buyers from purchasing certain homes with financing.
Just guarantee the hurricane coverage would have to be written, to be based on a base rate per thousnd $, with increases according to risk but not to exceed double the base amount for the county. Sounds to me the head of AutoOwners should be running Floridas Ins. program. Gallagher could learn something if he wern’t so interested in getting elected to higher office. I don’t think he can be labeled Rep. Or Dem. but “populist”. I’ve done a lot of property work in the past for AutoOwners, they paid their claims without hesitation if they were legit.
The EQ fund system in CA is a joke on the consumer and if another Northridge size quake hits, the public will cry from the pain.
Auto Owners is tyring to rape the consumer by excluding yet another risk from their policy and increasing their profitability by keeping all the “basic” lines.
I say, if an insurer wants to write business in any state (FL or CA or TX or whereever) then they must be required to write ALL risk reasonably expected in that region, including hurricane or EQ or hail or tornado or ice storm, etc.
The real problem is the insurers have no disipline in underwriting and play too much with a soft market. If the insurers can truely support the risk values with all the modeling and forecasting they do, then charge the correct premium and stop raping the taxpayer by dumping the higher exposurers on us.
Make those who want to live in an EQ zone or on the coast pay for their own risk. I live in the West, but not CA so charge me for my risk and do not dump FL or CA or any others on me thru the tax backdoor, be it federal via FEMA or another quirky incompetent state agency.
Please, again with the government programs. Where are we, the Soviet Union? Don’t these clowns know that socialism never works. I’m in FL and the windstorm pool here is overpriced and still underfunded. The entire premise is anti-American. Let the private market do it’s thing (that means absolutely no price controls by state insurance commissioners, the senate, federal government) and the market will take care of the problem.
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Florida just need the Florida Windstorm Insurance Association, like in Texas with have the TWIA for the coastal counties. That’ll solve some of it.
Were would homeowners find windstorm/hurricane coverage that is required by all mortgage lenders, in the event that they can not obtain that coverage in the standard market? It sounds like the dissolution of Citizens would exclude some homeowners from keeping their agreement with their lender and prohibit prospective buyers from purchasing certain homes with financing.
Just guarantee the hurricane coverage would have to be written, to be based on a base rate per thousnd $, with increases according to risk but not to exceed double the base amount for the county. Sounds to me the head of AutoOwners should be running Floridas Ins. program. Gallagher could learn something if he wern’t so interested in getting elected to higher office. I don’t think he can be labeled Rep. Or Dem. but “populist”. I’ve done a lot of property work in the past for AutoOwners, they paid their claims without hesitation if they were legit.
The EQ fund system in CA is a joke on the consumer and if another Northridge size quake hits, the public will cry from the pain.
Auto Owners is tyring to rape the consumer by excluding yet another risk from their policy and increasing their profitability by keeping all the “basic” lines.
I say, if an insurer wants to write business in any state (FL or CA or TX or whereever) then they must be required to write ALL risk reasonably expected in that region, including hurricane or EQ or hail or tornado or ice storm, etc.
The real problem is the insurers have no disipline in underwriting and play too much with a soft market. If the insurers can truely support the risk values with all the modeling and forecasting they do, then charge the correct premium and stop raping the taxpayer by dumping the higher exposurers on us.
Make those who want to live in an EQ zone or on the coast pay for their own risk. I live in the West, but not CA so charge me for my risk and do not dump FL or CA or any others on me thru the tax backdoor, be it federal via FEMA or another quirky incompetent state agency.
Please, again with the government programs. Where are we, the Soviet Union? Don’t these clowns know that socialism never works. I’m in FL and the windstorm pool here is overpriced and still underfunded. The entire premise is anti-American. Let the private market do it’s thing (that means absolutely no price controls by state insurance commissioners, the senate, federal government) and the market will take care of the problem.