Aug. 11 Public Hearing Scheduled in Bradenton, Fla. to Gauge Commercial Insurance Woes

August 9, 2006

  • August 9, 2006 at 10:01 am
    billy ray says:
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    In its day, wasn\’t \”JUA\” an even dirtier word than \”Citizens\”? If you plug \”JUA\” plus \”Florida\” into google, doesn\’t the website http://www.giantmessbroughttoyoubystateofficialsmeddlinginthemarket.ins.state.fl.us come up as the first link?

  • August 9, 2006 at 2:07 am
    Florida Agent says:
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    Billy Ray – at least the hearing is a start! and they\’ve actually invited AGENTS! wow maybe one of them is actually smart enough to present a solution or partial solution – NO ONE on the agancy side or consumer side of this issue wants another JUA – how about investigating a few of the carriers that have recently pulled out of this state-Cmon-insurance companies are the richest corporations in the world only 2nd to oil companies! WAKE UP!!!!!!!

  • August 9, 2006 at 3:51 am
    tigertail says:
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    It matters not who is a \”rich\” corporation, it only matters if consumers and business owners can get coverage. Herein lies the problem, politicians pander to consumers and businesses and put together hasty JUA as a \”temporary\” fix and the rates go up and availability goes down. There are no (zero) cases in history where JUA\’s have saved an insurance market.

    The solution is difficult and would require the kind of political courage no elected officials possess: 1) Stop regulating rates and coverage forms for any and all insurance companies doing business in Florida 2) Non-renew every single piece of business in Citizens-commercial, residential and windstorm 3) Mandate that Citizens rates in all program be 15% higher than the highest rates charged in Florida including surplus lines (all rates should still be filed electronically with the state for info purposes only) 4) Don\’t let anyone back into Citizens if they have any kind of offer of insurance including surplus lines, regardless of the rates or coverage limitations.

    It will mean that some people won\’t be able to get insurance and houses and businesses will go uninsured for some period of time. It will take about a year or two to get capacity going and another year or two for rate competition but, in my humble opinion, that will solve it. Think Gallagher or anyone else has the guts to do it? Absolutely not.

  • August 10, 2006 at 11:23 am
    Another Agent says:
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    When a politician wants to appear to be doing something and he doesn\’t know what to do he calls for a study. Let\’s create a commission or a task force or hold public hearings over and over and over again. Is there anyone out there who really believes we haven\’t already studied our insurance problems to death?

    Creating another JUA is a really bad idea but the lack of political courage and the absence of creative thinking needed to solve this problem has forced us to a point where it is the only solution.

    Public hearings will provide a forum for the politicains and a built-in excuse to delay any action. aren\’t there enough of us who are tired of the politicians who think it\’s more important to focus on the campaign than on the promises?

    Do you job and find a solution!

  • August 10, 2006 at 1:59 am
    Big Bad Insurance Company says:
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    Insurance companies didn\’t get rich by insuring risks at inadequate rates. If it wasn\’t for FL maybe we would catch oil companies.



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