so the rest of the U.S. should prop up the Floridiana \’cause they don\’t like their high insurance premiums? gimme a break – if you live in a high risk zone, pay the price and don\’t expect everybody else to bail you out.
I agree with you 100% Bob. Where was this bozo Gallagher when the Loma Prieta or Northridge EQ\’s hit California. I did not see him out here trying to help out. If you choose to live in a disaster zone, then you are going to have to pay more.
Actually, a federally supported backstop, cat relief fund, or pool would be a sound endeavor for the entire country, the same way TRIA would help insurers stay solvent in the event of another economy crippling event. It\’s not about one state; it\’s about an ever increasingly hostile global climate which will no doubt make its presence felt in states previously unscathed by severe weather phenomenon. Anyone who doesn\’t \”get\” that doesn\’t know anything about insurance or the economy.
Another large enough cat (or series of cats) in the Florida and Gulf region can effect many things we take for granted.
Where do you live Bob, that you feel there wouldn\’t eventually be a trickle-down to your local economy, insurance rates, price of fuel, orange juice, travel, construction, health care, etc. would not be affected? Canada (no knock intended towards Canada)? If so, let Americans work to help other Americans and continue worrying about your little corner of the globe. And, if you\’re not Canadian, the same advice still applies.
spoken like a true socialist. Actually, I think I do know quite a lot about insurance. I know that to have actuarial sound rates, you have to charge the appropriate premiums. And I know that \”territorial rating\” is supposed to help address those differences. But you, like many others, want to spread the risk clear out to those have have virtually no exposure, just to prop up those who have made poor choices in construction, building codes, flood zones. Again: gimme a break! Involving the feds in an insurance program has certainly worked well with FEMA, hasn\’t it? And you want more of the same? Or even on a larger scale to involve more than just flood????
While I understand John\’s reasoning. It is somewhat flawed. Why should the rest of the country subsidize Florida when there is a good chance that it is going to get hit with a major hurrican at least every 3-5 years. I don\’t think that many ice storms hit that often and cause that much damage. I subscribe to the notion that if you want to continue to live where it might not be compatible with habitation, then you must be willing to absorb that risk yourselves.
1) Read the story of The Three Little Pigs, over and over if necessary.
2) Don\’t build below sea level.
3) Read The Federalist Papers.
4) Never subsidize insurance. This will only serve to encourage that behavior we ought to be discouraging, in this case building in and increasing the population of coastal areas prone to hurricanes.
gee, I though I was the lone voice in the wilderness, crying out against those who continually want to get in my pocket – and generally as a result of their own poor choices in life. What John and his leftist colleagues call \”social justice\” I call just another form of welfare.
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so the rest of the U.S. should prop up the Floridiana \’cause they don\’t like their high insurance premiums? gimme a break – if you live in a high risk zone, pay the price and don\’t expect everybody else to bail you out.
I agree with you 100% Bob. Where was this bozo Gallagher when the Loma Prieta or Northridge EQ\’s hit California. I did not see him out here trying to help out. If you choose to live in a disaster zone, then you are going to have to pay more.
Actually, a federally supported backstop, cat relief fund, or pool would be a sound endeavor for the entire country, the same way TRIA would help insurers stay solvent in the event of another economy crippling event. It\’s not about one state; it\’s about an ever increasingly hostile global climate which will no doubt make its presence felt in states previously unscathed by severe weather phenomenon. Anyone who doesn\’t \”get\” that doesn\’t know anything about insurance or the economy.
Another large enough cat (or series of cats) in the Florida and Gulf region can effect many things we take for granted.
Where do you live Bob, that you feel there wouldn\’t eventually be a trickle-down to your local economy, insurance rates, price of fuel, orange juice, travel, construction, health care, etc. would not be affected? Canada (no knock intended towards Canada)? If so, let Americans work to help other Americans and continue worrying about your little corner of the globe. And, if you\’re not Canadian, the same advice still applies.
I know of a company that would probably take the Florida blizzard part of the risk. Does anybody want the volcano part?
spoken like a true socialist. Actually, I think I do know quite a lot about insurance. I know that to have actuarial sound rates, you have to charge the appropriate premiums. And I know that \”territorial rating\” is supposed to help address those differences. But you, like many others, want to spread the risk clear out to those have have virtually no exposure, just to prop up those who have made poor choices in construction, building codes, flood zones. Again: gimme a break! Involving the feds in an insurance program has certainly worked well with FEMA, hasn\’t it? And you want more of the same? Or even on a larger scale to involve more than just flood????
While I understand John\’s reasoning. It is somewhat flawed. Why should the rest of the country subsidize Florida when there is a good chance that it is going to get hit with a major hurrican at least every 3-5 years. I don\’t think that many ice storms hit that often and cause that much damage. I subscribe to the notion that if you want to continue to live where it might not be compatible with habitation, then you must be willing to absorb that risk yourselves.
Bob,
Are you my long lost brother? We sure have the same opinion on this.
1) Read the story of The Three Little Pigs, over and over if necessary.
2) Don\’t build below sea level.
3) Read The Federalist Papers.
4) Never subsidize insurance. This will only serve to encourage that behavior we ought to be discouraging, in this case building in and increasing the population of coastal areas prone to hurricanes.
gee, I though I was the lone voice in the wilderness, crying out against those who continually want to get in my pocket – and generally as a result of their own poor choices in life. What John and his leftist colleagues call \”social justice\” I call just another form of welfare.
hey, there is another one of us out there: Mark, the ex-floridian
congrats, Mark, on understanding the capitialist, free enterprise concept of business like Compman and I do!