After losing $billions, $600M is a mere bagatelle. Of course that’s no reason to raise rates. Stockholders should consider it a humanitarian act to give up dividends for the next 20 years.
With all due respect, this old adjuster must disagree with AIR’s chintzy estimate.
Even though the larger hurricane deductibles will soften the blow for carriers, this slow moving and very wet (in places) storm, will have hatched ‘ thousands of ‘leakers’, substantial mobile home damage, destruction of pool enclosures, and tree and fence damages. Add the insured NFIP damages and I estimate one and one/half billion.
Why isn’t this guy doing his job! Anyone that has the ability to cap rates, mandate claims payments, eliminate profits from greedy companies and basicly eliminate the econimic laws of suppy and demand certainly ought to be able to order these hurricanes to leave Florida alone for the next couple of years until all of the coastal property is rebuilt.
What’s 600 million or so amongst friends? So what if some states don’t have this amount of property losses in a decade or more. Certainly these insurance companies are profiting at the expense of Florida residents.
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After losing $billions, $600M is a mere bagatelle. Of course that’s no reason to raise rates. Stockholders should consider it a humanitarian act to give up dividends for the next 20 years.
With all due respect, this old adjuster must disagree with AIR’s chintzy estimate.
Even though the larger hurricane deductibles will soften the blow for carriers, this slow moving and very wet (in places) storm, will have hatched ‘ thousands of ‘leakers’, substantial mobile home damage, destruction of pool enclosures, and tree and fence damages. Add the insured NFIP damages and I estimate one and one/half billion.
Is this the end of POE FINANCIAL the coastal insurance company?
Why isn’t this guy doing his job! Anyone that has the ability to cap rates, mandate claims payments, eliminate profits from greedy companies and basicly eliminate the econimic laws of suppy and demand certainly ought to be able to order these hurricanes to leave Florida alone for the next couple of years until all of the coastal property is rebuilt.
What’s 600 million or so amongst friends? So what if some states don’t have this amount of property losses in a decade or more. Certainly these insurance companies are profiting at the expense of Florida residents.
You companies are bandits!!!