This is the best solution to the current problem. I bet most of those claims (and I have seen a few that are bogus) are not true sinkholes but rather settlement, that\’s the terrain you built on, deal with it. A true sinkhole will still be covered by Citizens
that is a very good question about the Florida Statute requiring sinkhole – I write on the comml end but know sinkhole is covered by almost every admitted and non admitted carrier the state currently alllows to write- My concern is this. Pasco county is as susceptible to sinkholes as St Pete Beach is to hurricanes, so it seems to me that its like selling an xwind policy – how is this going to HELP the other markets come back to this state?
It will not help the private market return to these areas. (1) Blame the attorney\’s for their greed. (2) Blame the OIR as co\’s requested help 5 years ago and they ducked. Now that it is the states problem they come up with a bogus idea. Who know who will buy sinkhole coverage, those in sinkhole areas. This new form hasn\’t been approved not tested in the court. Private market will not return.
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What a joke! Current statute requires sinkhole coverage and what will the mortgage companies say?
This is the best solution to the current problem. I bet most of those claims (and I have seen a few that are bogus) are not true sinkholes but rather settlement, that\’s the terrain you built on, deal with it. A true sinkhole will still be covered by Citizens
that is a very good question about the Florida Statute requiring sinkhole – I write on the comml end but know sinkhole is covered by almost every admitted and non admitted carrier the state currently alllows to write- My concern is this. Pasco county is as susceptible to sinkholes as St Pete Beach is to hurricanes, so it seems to me that its like selling an xwind policy – how is this going to HELP the other markets come back to this state?
It will not help the private market return to these areas. (1) Blame the attorney\’s for their greed. (2) Blame the OIR as co\’s requested help 5 years ago and they ducked. Now that it is the states problem they come up with a bogus idea. Who know who will buy sinkhole coverage, those in sinkhole areas. This new form hasn\’t been approved not tested in the court. Private market will not return.