The reality is that POE has screwed thousands of people who paid VERY HIGH premiums, when faced with real damages, were left with NOTHING. Where did those premiums go???
Bob must be smoking some good stuff. I thought I heard him say that the Premiums collected in good\’ole FLA were not sufficient to cover the risk, and that maybe, just maybe the premiums should be priced adequately to pay for any losses generated in that market place. Wow, what an idea, price the product correctly, Hmm………….But what will the politicians say, Hmm…………….and how about all of those people who will complain about paying the \”Correct Rate\”…Hmm………..Oh fuey, lets just let other people in the other market places make up the difference, they have done it all along, and someone said that the Floridians were stupid, stupid is as stupid does.
What puzzles me is that while the OIR and Citizens are dealing with $2.2 billion in deficits over the past two years, they have come up with a plan that gives policyholders, that had made the wrong decision by staying with an insolvent company, a lower rate with the same Citizens program and better coverage than other insureds that were smart to move their business from Poe a year or two ago. I also wonder where all the unearned premium is going to come from to fund this \’plan\’ and what is going to happen once the well is dry. If I didn\’t know better, I\’d bet this is an election year.
The premium is only good for the remaining term of the policy in force. They will pay the same rates as everyone else at renewal.
Most Poe insureds had no choice but to stay. They are older homes, and S FL homes. Only real alternative was Citizens at a much higher rate, and awful service.
And Citizens is quite good at losing money as well. Why does the State refuse to allow Carriers to charge higher rates, then force everyone into Citizens where they will pay the rates that the carriers asked for in the first place?
I think some of you folks are missing a big point. Some of us had citizens and were FORCED through assumption of policy to become POE customers. My rates with POE were higher than they were with citizens, but I had NO choice but to go with POE. Citizens told me point blank that even though I did not want coverage with POE (for obvious financial reasons concerning that company), that citizens would not renew my policy because POE was available to write it. So in the end, I got screwed by both citizens and POE.
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The reality is that POE has screwed thousands of people who paid VERY HIGH premiums, when faced with real damages, were left with NOTHING. Where did those premiums go???
gee, looks like premiums should be higher in Florida to appropriately cover the exposure.
Dude; what are you smoking?
Bob must be smoking some good stuff. I thought I heard him say that the Premiums collected in good\’ole FLA were not sufficient to cover the risk, and that maybe, just maybe the premiums should be priced adequately to pay for any losses generated in that market place. Wow, what an idea, price the product correctly, Hmm………….But what will the politicians say, Hmm…………….and how about all of those people who will complain about paying the \”Correct Rate\”…Hmm………..Oh fuey, lets just let other people in the other market places make up the difference, they have done it all along, and someone said that the Floridians were stupid, stupid is as stupid does.
What puzzles me is that while the OIR and Citizens are dealing with $2.2 billion in deficits over the past two years, they have come up with a plan that gives policyholders, that had made the wrong decision by staying with an insolvent company, a lower rate with the same Citizens program and better coverage than other insureds that were smart to move their business from Poe a year or two ago. I also wonder where all the unearned premium is going to come from to fund this \’plan\’ and what is going to happen once the well is dry. If I didn\’t know better, I\’d bet this is an election year.
The premium is only good for the remaining term of the policy in force. They will pay the same rates as everyone else at renewal.
Most Poe insureds had no choice but to stay. They are older homes, and S FL homes. Only real alternative was Citizens at a much higher rate, and awful service.
And Citizens is quite good at losing money as well. Why does the State refuse to allow Carriers to charge higher rates, then force everyone into Citizens where they will pay the rates that the carriers asked for in the first place?
I think some of you folks are missing a big point. Some of us had citizens and were FORCED through assumption of policy to become POE customers. My rates with POE were higher than they were with citizens, but I had NO choice but to go with POE. Citizens told me point blank that even though I did not want coverage with POE (for obvious financial reasons concerning that company), that citizens would not renew my policy because POE was available to write it. So in the end, I got screwed by both citizens and POE.