BEST SOLUTION.
Just outlaw hurricanes. Then you don\’t need to worry about it. If a hurricane ever shows up again – throw the book at her with a big fine!
will journalist stop printing outlandish comments from this uninformed homeowners against citizens organization. People, think about it. If companies made so much money then why are so few private companies writing homeowners in florida.
The solution is simple. Pass a State Bond Issue. Pass another statute that requires all admitted carriers to stay 24 months. Form a state company with the bond money. Call Warren Buffett and ICAT and work a deal for them to run the program and shut down all the other carriers in Florida.
Jack up the deductibles in wind areas back to 5 miles, and allow every agent to sell the product. We have too many players and too many people involved in this right now, and thats why there is no solution. Kick them all out. Danny
Danny has the Argentina Plan down perfectly. In the mid 70s the only companies that could do business in Argentina were Argentina companies. The only place they could get reinsurance was the government reinsurance plan.
After the country completely bottomed out in the 1980s they began to let outside reinsurers participate. The healing is still taking place, this disease of thought makes a real critical economic condition that was almost fatal to all that have tried it.
Portugal did it, too. The list is long.
Hal, I\’m no economic guru, but there was a lot more to the insurance problems in South America in the 80\’s than you have eluded to. That being said, the current status quo has to go. The carriers have had years to solve the Florida problems, and simply put, don\’t have to stay. However when they go, they need to cancel every bit of business they have in the state so we can pick up the \”LITTLE BIT OF PROFIT\” they make in the second largest insurance market in the U.S.
Who cares how we get from point A to point B. as long as we make the trip and not keep applying old solutions to the same problem over and over again.
Let FSU and UF set up a team of young people to come up with new solutions and ideas. Folks like you and me don\’t have a real perspective or view of the problem because we are either in the industry, or just too set in our ways to change.
Heck, the easiest thing to do is add a surcharge to the property tax and cover all the properties taxed and give any profit made to the various counties to reduce property tax… Then we can add a NICKLE to every gallon of gas, insure all the Florida Licened Drivers at half the cost that the private companies charge because of all the tourist we get every year. That alone would eliminate the uninsured drivers ( 30 % state wide).
I\’d just buy a gas station and wouldn\’t have to do any service work.
Gee whiz, can we not move forward, Or are we going to stay stuck on stupid ?
depends on your definition of stupid. The voters and politicians in Portugal thought they knew everything when they nationalized the banks and insurance companies.
This is not South America. Get out of the past. It doesn\’t matter. Let\’s move on. Everyone bitches about the problem, but can anyone come up with a solution ?
Who cares what the answer is as long as it works until we find a better way.
What\’s the solution ? Anyone got any ideas ? Come on Hal, you must have one idea. It doesn\’t have to be perfect. Just one idea that may help all these people with their problem….?.. If you do, then let\’s hear it. We all need help here. Maybe Joe Scarborough can help.. I\’ll ask him next time he comes over.
I have an some ideas, but not ones that many Floridians would like.
1)Stop further construction within a significant distance from the coast (perhaps 5 miles).
2)Eliminate all rate regulation thus inviting private insurers back into the state and let them slug it out but in turn stay at a rate they feel is prudent.
3)Permit government sponsored insurance only if NO other private offer is available and create significant deductibles (20%) for the government sponsored insurance to encourage a legitimate search for private insurance by the insured. Do not allow public insurance for any home in the top 10% of home values to inhibit excessive exposures being built even away from the immediate coast.
4)Again raise building code standards
The answer is to quit the conspiracy theories and let the people who actually know insurance do the business. It isn\’t hard to insure for storms unless the government prohibits the company from doing it.
On an international scale only about six of the 50 largest insurance companies (measured in assets) in the world do business in the US. The result is that we have insolvencies when we have a storm. How dumb is that?
Solvency is not achieved by legislation.
Why don\’t those big guys do business here? Well it\’s the simple fact that they don\’t need to do business anywhere that the government (Florida is a good example) can second guess their own state rules and mandate a premium refund.
AND by-the-way, Portugal is not in South America. It never was.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
BEST SOLUTION.
Just outlaw hurricanes. Then you don\’t need to worry about it. If a hurricane ever shows up again – throw the book at her with a big fine!
will journalist stop printing outlandish comments from this uninformed homeowners against citizens organization. People, think about it. If companies made so much money then why are so few private companies writing homeowners in florida.
The solution is simple. Pass a State Bond Issue. Pass another statute that requires all admitted carriers to stay 24 months. Form a state company with the bond money. Call Warren Buffett and ICAT and work a deal for them to run the program and shut down all the other carriers in Florida.
Jack up the deductibles in wind areas back to 5 miles, and allow every agent to sell the product. We have too many players and too many people involved in this right now, and thats why there is no solution. Kick them all out. Danny
Danny has the Argentina Plan down perfectly. In the mid 70s the only companies that could do business in Argentina were Argentina companies. The only place they could get reinsurance was the government reinsurance plan.
After the country completely bottomed out in the 1980s they began to let outside reinsurers participate. The healing is still taking place, this disease of thought makes a real critical economic condition that was almost fatal to all that have tried it.
Portugal did it, too. The list is long.
Hal, I\’m no economic guru, but there was a lot more to the insurance problems in South America in the 80\’s than you have eluded to. That being said, the current status quo has to go. The carriers have had years to solve the Florida problems, and simply put, don\’t have to stay. However when they go, they need to cancel every bit of business they have in the state so we can pick up the \”LITTLE BIT OF PROFIT\” they make in the second largest insurance market in the U.S.
Who cares how we get from point A to point B. as long as we make the trip and not keep applying old solutions to the same problem over and over again.
Let FSU and UF set up a team of young people to come up with new solutions and ideas. Folks like you and me don\’t have a real perspective or view of the problem because we are either in the industry, or just too set in our ways to change.
Heck, the easiest thing to do is add a surcharge to the property tax and cover all the properties taxed and give any profit made to the various counties to reduce property tax… Then we can add a NICKLE to every gallon of gas, insure all the Florida Licened Drivers at half the cost that the private companies charge because of all the tourist we get every year. That alone would eliminate the uninsured drivers ( 30 % state wide).
I\’d just buy a gas station and wouldn\’t have to do any service work.
Gee whiz, can we not move forward, Or are we going to stay stuck on stupid ?
Danny
depends on your definition of stupid. The voters and politicians in Portugal thought they knew everything when they nationalized the banks and insurance companies.
Hal,
What is your solution to the problem?
This is not South America. Get out of the past. It doesn\’t matter. Let\’s move on. Everyone bitches about the problem, but can anyone come up with a solution ?
Who cares what the answer is as long as it works until we find a better way.
What\’s the solution ? Anyone got any ideas ? Come on Hal, you must have one idea. It doesn\’t have to be perfect. Just one idea that may help all these people with their problem….?.. If you do, then let\’s hear it. We all need help here. Maybe Joe Scarborough can help.. I\’ll ask him next time he comes over.
Danny
I have an some ideas, but not ones that many Floridians would like.
1)Stop further construction within a significant distance from the coast (perhaps 5 miles).
2)Eliminate all rate regulation thus inviting private insurers back into the state and let them slug it out but in turn stay at a rate they feel is prudent.
3)Permit government sponsored insurance only if NO other private offer is available and create significant deductibles (20%) for the government sponsored insurance to encourage a legitimate search for private insurance by the insured. Do not allow public insurance for any home in the top 10% of home values to inhibit excessive exposures being built even away from the immediate coast.
4)Again raise building code standards
The answer is to quit the conspiracy theories and let the people who actually know insurance do the business. It isn\’t hard to insure for storms unless the government prohibits the company from doing it.
On an international scale only about six of the 50 largest insurance companies (measured in assets) in the world do business in the US. The result is that we have insolvencies when we have a storm. How dumb is that?
Solvency is not achieved by legislation.
Why don\’t those big guys do business here? Well it\’s the simple fact that they don\’t need to do business anywhere that the government (Florida is a good example) can second guess their own state rules and mandate a premium refund.
AND by-the-way, Portugal is not in South America. It never was.
John, good thoughts. Keep them coming.
Hal, a lot of people in South America speak Portuguiese……That\’s not the point…..What\’s your idea on how to solve the problem,,, Help John out here.
Danny