Gov. Bush Opposes Bailing Out Citizens With Tax Revenue; Suggests Using Reserve Fund

December 21, 2005

  • December 21, 2005 at 10:53 am
    Agent 007 says:
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    We are watching an absurd fiasco as Citizens attempts to operate as an insurance company with fraud, ineptness, mismanagement and undisciplined underwriting standards while the state officals argue over taxing the public via premium surcharges to all homeowners or using some of the State\’s $800 million reconstruction funds. The State created the dilemma and the State should be a party to the bailout and not pass the buck on to insurance companies and insured homeowners.

    Is it any wonder why insurers are leaving Florida and no new companies are marching foward to write property insurance? Fix it and stop playing politics.

  • December 21, 2005 at 1:22 am
    Reagan says:
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    It\’s about time that the citizen\’s of damaged communities be made accountable for the necessary repairs instead of the taxpayer at large. Knowing that they live in an area of high natural disaster makes it more likely that in the wake of all the recent disasters. people are just waiting for their windfall from the government. After all, most of those people were already receiving some form of taxpayer funded benefit.

  • December 21, 2005 at 1:59 am
    Wind Coverage Provider says:
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    Bush has some good points, but the state does have some responsibility to give something back to offset the Citizens assessment since the state shares much of the blame. After all, if Citizens priced its products correctly (ie, as a true market of last resort, which is to say well above the most expensive surplus lines company\’s rates), we wouldn\’t be in this mess.

    If somoeone chooses to live on the coast in a shack, she/he should pay a high premium either to the private market or, as a last resort, to the state\’s company. Or that person can move. Residents who live well inland in well-constructed homes are now paying to cover Citizens\’ shortfall. I would love to live in Miami or Destin for that matter, but I am an adult and I realize that I can\’t afford it.

  • December 21, 2005 at 3:02 am
    Scooter Libber says:
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    Can you read? If you could you would have seen that all homeowners are essentially taxed by Citizens rather than using money earned from the hurricanes to offset the losses without hurting the public at large.

  • December 21, 2005 at 6:00 am
    The Jury says:
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    Scooter, there is a reason you are in trouble. It appears you are just stupid.
    All the homeowners in Florida that are being taxed to pay the debt of Citizens insuance corp, are the public at large. This is the epitome of a state welfare system to support a state run program.
    If Citizens is not self sufficient it should be eliminated or only the people insured by Citizens should be made to pay the debt. I do not work hard to earn money that I must pay to cover someone elses insolvent insurance company. Don\’t look to me for a welfare handout anymore. Citizens should earn a living that supports its lifestyle. If you insure high risk customers, they should be paying high risk prices, not getting everyone else that insures property in the state to pay for it.
    Socialism? why not just have the state levy a 5% tax that is withheld from our paycheck and then give us free property insurance. This is kind of what they are doing now, taking without asking or justifying it. Pure theft is what it is.
    Hell, just don\’t insure and then file a claim with FEMA. Better yet find out who Tom Gallagher is insured by



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