now there you go again gettin’ all negative on us! Come on, I have the utmost faith that this panel of 12 “experts” with act in good faith with only altruistic purpose.
I am also confident that they will be able to solve issues such as high severity loss potential, fraud, corruption, activist judges and incompetent regulation while maintaining rates well below the actuarial breakeven threshold.
let’s try to be more positive about this. it will make all of our problems go away!
1)Increased affordability (Lower rates)
2) Increased scrutiny of claims adjusters (they are obviously a big factor in Florida’s current problem(
3) Increased deductibles (From $500 to $750 or maybe even a $1000)
4) Increased regulation with more staffing in the DOI and more fines and audits.
5) large and expensive case study to determine if there is more damage potential on the coastline or inland. This should go to Poe or somewhat of this high repute
6) Decreased capital requirements. This will help increase competition
7) broaden the current statute to make sure that all claims whether legitimate or not or even covered under the policy are paid without delay
8) Mandate that every carrier participate in the Guaranty fund and make sure that all carriers operating in the state give an “honorarium” to the Gallager for Governor campaign
9) Review the ongoing viablity of Citizens Ins. If financially weak set up a not state funded company to replace Citizens. Make sure sure that the rates on the replacment company are more compeitive and offer broader terms than Citizens.
All of above will work great and eliminate the need for increased rates and decreased coverage for property owners on the water. It will also eliminate the need for rate derugulation as well as carrier financial analysis.
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Insurance tends to be cheaper when you don’t worry about minor things such as rate adaquecy, underwriting discipline and the ability to pay claims.
Not to mention side-effects of not having sufficient premium income to offset claims: Depressed staff with low morale and high turnover.
LL
now there you go again gettin’ all negative on us! Come on, I have the utmost faith that this panel of 12 “experts” with act in good faith with only altruistic purpose.
I am also confident that they will be able to solve issues such as high severity loss potential, fraud, corruption, activist judges and incompetent regulation while maintaining rates well below the actuarial breakeven threshold.
let’s try to be more positive about this. it will make all of our problems go away!
1)Increased affordability (Lower rates)
2) Increased scrutiny of claims adjusters (they are obviously a big factor in Florida’s current problem(
3) Increased deductibles (From $500 to $750 or maybe even a $1000)
4) Increased regulation with more staffing in the DOI and more fines and audits.
5) large and expensive case study to determine if there is more damage potential on the coastline or inland. This should go to Poe or somewhat of this high repute
6) Decreased capital requirements. This will help increase competition
7) broaden the current statute to make sure that all claims whether legitimate or not or even covered under the policy are paid without delay
8) Mandate that every carrier participate in the Guaranty fund and make sure that all carriers operating in the state give an “honorarium” to the Gallager for Governor campaign
9) Review the ongoing viablity of Citizens Ins. If financially weak set up a not state funded company to replace Citizens. Make sure sure that the rates on the replacment company are more compeitive and offer broader terms than Citizens.
All of above will work great and eliminate the need for increased rates and decreased coverage for property owners on the water. It will also eliminate the need for rate derugulation as well as carrier financial analysis.