Davis Makes Proposals to Fix Florida’s Property Insurance Problems

June 12, 2006

  • June 12, 2006 at 7:00 am
    johndds says:
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    apolitical: re: attacking Davis for having an idea. This is not an idea, this is a political soundbite. There is one and only one idea that will make the Florida market function: make it profitable for companies to write wind risk in the state. If the state is not willing to make itself attractive to the private market by allowing companies to make an obscene profit when the wind doesn\’t blow so that they can pay for hurricane losses out of profits reaped in the state, then the only other solution is for the state to insure all properties in the state. Any other solutions — e.g., forcing auto writers to write homeowners –are just way to impair the other lines of business and reduce competition in those lines by giving those carriers a huge incentive to leave the state. So, let\’s call a spade a spade: Davis has not put any thought into this idea….it\’s just a soundbite.

  • June 12, 2006 at 8:58 am
    John Hyun says:
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    Where was he when the insurance comittee was meeting in May? Sounds like a stupid canned response to the industry.

    Nothing but hot air from a politican running for Governor.

  • June 12, 2006 at 2:08 am
    Advisor says:
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    I don\’t have a problem with combining flood with all other hazards. The public needs to know well in advance that it\’s coming and I believe there should be an opt-out clause, just like with terrorism insurance.

    As for a consumer advocate on the arbitration panel I just think that\’s political talk. There\’s already consumer representation. Making that person report to the governor doesn\’t change anything.

    Making the companies give 1 year notice doesn\’t change anything either. If they\’re going to drop the policy the standard 30-45 day notice is plenty of time to find other insurance. Unless of course the typical consumer waits until the last week to shop for coverage!

  • June 12, 2006 at 2:15 am
    What a moron... says:
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    Jim Davis clearly couldn\’t find his posterior with both hands and a funnel. Force the industry to insure for flood? After the few remaining carriers who are writing new business in the State run screaming from the building, there will be NO insurer left other than Citizens. While we\’re at it, let\’s make them cover automobiles too. That way the poor consumer won\’t have to write two checks!

    I\’m embarassed that Mr. Davis hails from our State. Heaven help us all if he ends up in the Governor\’s office.. but then again, he is just stupid enough that he might just get elected.

  • June 12, 2006 at 2:27 am
    apolitical says:
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    I think Jim Davis is wrong but I know he\’s not stupid and he\’s not a moron. The jury, however, is still out on you and everyone like you who find it necessary to attack someone personally for having an idea you happen to disagree with.

  • June 12, 2006 at 2:56 am
    m rogers says:
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    Why don\’t we make the insurers that only do auto insurance, such as Geico, AIG, Progressive, etc. be forced to insure some of the homes in Florida? They should not be allowed to profit from auto market in florida without sharing the risk of homeowner insurance also. First, this will give us more homeowner carriers. Second, it could help take some of the risk away from Citizen. Then perhaps the major carriers such as Allstates & State Farm would return to the market. This can only help our current situation …..

  • June 12, 2006 at 6:30 am
    LL says:
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    State Farm is not going to return to the wind market. In fact all of those windpool locations currently insured by State Farm will end up in Citizens at next renewal.

  • June 12, 2006 at 6:55 am
    Compman says:
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    While I applaud Jim Davis for at least trying to come up with a solution, he may have been better off with the old saying \”he who leaves his mouth shut may look like a fool, but he who speaks removes all doubt\”. If he had thought about what he actually proposed, I think he would take it back. Let\’s see, right now we can\’t get carriers to stick around even though they don\’t have to cover flood damage. So, let\’s force them to carry flood as well. Yeah, that makes sense. And already people are complaining about the higher premiums being charged without flood coverage. So you now are going to charge them even more. Yeah, that goes over like a lead balloon too!. No, you say, we can make flood optional and people can opt out. Sure, so 95% opt out and what do you get? Abnormal selection of the worst risks with little premium money to show for it. Yeah, that\’s the ticket. And after the next hurricane and all the houses get flooded and all the people who opted out sue their insurance carrier because \”they did not understand\” what they were doing, we will have a real big mess. So, I think it is safe to say Jim Davis maybe is no idiot or moron, he just plays one in Florida.



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