is Florida\’s state government. Storms we are willing to risk. A state government that is utterly hostile to insurers and their needs is the real underlying problem.
In a free market, homeowners insurance would be available and Citizens would shrink. When legislators and regulators change the rules constantly, capital gets scarce cause capital-providers get scared.
It is very interesting to read that of a panel discussing homeowner carriers in Florida – only one participant appears to be from an insurance carrier?
I\’m referring to Lawyers, why is this panel mostly lawyers? Why is it that the only people in this state making money without risk of losing it is attorneys. If there is a buck to be made they are there.
I see no offer or solution presented by this panel, but then they would have no suit to file if everything were fixed.
What is really ridiculuos is that you folks are just finding about it now. For goodness sake agents, companies, mother-in-laws and everyone has been telling you the same story over and over sine Hurricane Andrew. You are just looking into it. We where you folks these past 13 years. It is scary to have hurricanes, more scary knwoing you bozozs are the ones in the pannel.
God Help us all……
FLEA FLORIDA WHILE YOU CAN! IT IS GONE!
the sarcasm directed at you is due to the fact that Citizens in not an insurance company. It\’s a residual market that was created for purely political reasons by people who will not be there when the inevitable collapse occurs. In most states this would be criminally egregious behvior. In Florida, its a badge of honor and will likely result in the creator of the ponzi scheme being crowned governor (goveneror gallagher…hmmm has a good ring to it although generalissimo gallagher sounds better).
Citizens has no actuarial credibility, no underwriting expertise, no financial or statutory requirements. It\’s just a pool created to insured Floridians at rates much lower and terms much better than the competitive marketplace would ever offer. it\’s just a economic transfer mechanism. When the operating deficit becomes too great then the assessments will drive out the volantary marketplace. When this occurs on the property market then florida will start assessing any line for any carrier that has the \”privelege\” of operating in Florida. This is unconstituional but will take years to play out in court. While this is occurring generalissimo\’s term will have ended and some other creative individual will have to come in and fix it. They will probably also use a ponzi scheme or some other stilted mechanism rather than addressing the underlying problem of inadequate rates and overly liberal coverage terms.
It\’s alright for you to sell this scheme. It\’s lazy and an easy way to make a living. Just don\’t brag about it. Hide it and bring it up only when forced to discuss it. You might also want to hope that the policyholder that bought this scheme never has a loss. Likely to be a serious delay in payment.
Who are these gas bags? How can they have any affect on the HO marketplace. The only stooge that can do anything is Mccarthy and the best thing he could do is take a year sabbatical and let the marketplace price the product.
Coach K, I agree with part of what you say, but the crap about Citizens having MUCH lower rates and MUCH BETTER terms than the marketplace is the biggest load I have heard anyone say. Are you smoking weed or just not in touch with reality?
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is Florida\’s state government. Storms we are willing to risk. A state government that is utterly hostile to insurers and their needs is the real underlying problem.
In a free market, homeowners insurance would be available and Citizens would shrink. When legislators and regulators change the rules constantly, capital gets scarce cause capital-providers get scared.
It is very interesting to read that of a panel discussing homeowner carriers in Florida – only one participant appears to be from an insurance carrier?
Citizens has become the first choice on commerical properties. They pay higher commisions and their rates are at least half of the other insurers.
I\’m referring to Lawyers, why is this panel mostly lawyers? Why is it that the only people in this state making money without risk of losing it is attorneys. If there is a buck to be made they are there.
I see no offer or solution presented by this panel, but then they would have no suit to file if everything were fixed.
BJN I could of not said it better myself.
As for you JAS you had not a clue as to what you are talking about.
Enlighten me with your wisdom. You don\’t see a problem with citizens? You want the state gov to take on all the losses?
What is really ridiculuos is that you folks are just finding about it now. For goodness sake agents, companies, mother-in-laws and everyone has been telling you the same story over and over sine Hurricane Andrew. You are just looking into it. We where you folks these past 13 years. It is scary to have hurricanes, more scary knwoing you bozozs are the ones in the pannel.
God Help us all……
FLEA FLORIDA WHILE YOU CAN! IT IS GONE!
JAS
the sarcasm directed at you is due to the fact that Citizens in not an insurance company. It\’s a residual market that was created for purely political reasons by people who will not be there when the inevitable collapse occurs. In most states this would be criminally egregious behvior. In Florida, its a badge of honor and will likely result in the creator of the ponzi scheme being crowned governor (goveneror gallagher…hmmm has a good ring to it although generalissimo gallagher sounds better).
Citizens has no actuarial credibility, no underwriting expertise, no financial or statutory requirements. It\’s just a pool created to insured Floridians at rates much lower and terms much better than the competitive marketplace would ever offer. it\’s just a economic transfer mechanism. When the operating deficit becomes too great then the assessments will drive out the volantary marketplace. When this occurs on the property market then florida will start assessing any line for any carrier that has the \”privelege\” of operating in Florida. This is unconstituional but will take years to play out in court. While this is occurring generalissimo\’s term will have ended and some other creative individual will have to come in and fix it. They will probably also use a ponzi scheme or some other stilted mechanism rather than addressing the underlying problem of inadequate rates and overly liberal coverage terms.
It\’s alright for you to sell this scheme. It\’s lazy and an easy way to make a living. Just don\’t brag about it. Hide it and bring it up only when forced to discuss it. You might also want to hope that the policyholder that bought this scheme never has a loss. Likely to be a serious delay in payment.
Who are these gas bags? How can they have any affect on the HO marketplace. The only stooge that can do anything is Mccarthy and the best thing he could do is take a year sabbatical and let the marketplace price the product.
Coach K, I agree with part of what you say, but the crap about Citizens having MUCH lower rates and MUCH BETTER terms than the marketplace is the biggest load I have heard anyone say. Are you smoking weed or just not in touch with reality?