Citizen’s is treated just like any other insurer? When one of the major 3 insurers requested a 28% rate increase, it was decried as outrageous and unnecessary. Suddenly a 32.5% increase is necessary for Citizen’s?
Well, they’ve learned the first of two K-Mart Rules.
Rule 1. The blue light doesn’t stay on for long.
The second rule is that the price of a product has to reflect the cost. They haven’t learned that yet. Their “rating” idea is way off the mark. Rate increases just based on volume miss the point.
Poe Loverboy:
In case it slipped your mind, we Floridians are required by law to bail out Citizens. When Poe goes under, I won’t get surcharged one red cent.
So I say: Yes, Citizens, please raise your rates, the higher, the better, so you won’t have a deficit and I won’t have to bail you out!
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Citizen’s is treated just like any other insurer? When one of the major 3 insurers requested a 28% rate increase, it was decried as outrageous and unnecessary. Suddenly a 32.5% increase is necessary for Citizen’s?
What rate increase?
I thought a company can’t collect for prior claims in requesting rates only future.
Well, they’ve learned the first of two K-Mart Rules.
Rule 1. The blue light doesn’t stay on for long.
The second rule is that the price of a product has to reflect the cost. They haven’t learned that yet. Their “rating” idea is way off the mark. Rate increases just based on volume miss the point.
Poe Loverboy:
In case it slipped your mind, we Floridians are required by law to bail out Citizens. When Poe goes under, I won’t get surcharged one red cent.
So I say: Yes, Citizens, please raise your rates, the higher, the better, so you won’t have a deficit and I won’t have to bail you out!