The E & S market has 3 carriers selling an xsinkhole product now and its selling, and its closing just fine. Why would they want to prevent a deal in these slow times? Now all those Pasco attorneys can go back to to learning how to get their injury claims paid when FL\’s NO Fault law is repealed next year. Hopefully there won\’t be any more winners in this lottery.
I don\’t see your reasoning \”this is wrong\”. If the insured wants this coverage he should have to pay for it. That\’s been the problem with insurance and consumers in FL. They believe, or so protest, that \”everything \”should be covered at a \”bargain basement price\”. Now do you understand why insurance has become so hard to obtain in FL?
So the menu should be a\’la carte
Consumers should be able to pick and choose what they want to be insured against. What is an agent to do? He needs to make the sale, so does he just drop the sinkhole coverage? or how about that ever so expense wind coverage. Do most residents really need theft coverage, or should they be held responsible for properly securing their belongings? Hell most homes in Florida have new roofs, why don\’t we exclude coverage for new roofs or limit it to ACV only on older roofs?
If consumers are allowed to pick what coverage they want then agents must be held harmless for the decisions that consumers make about how they spend their insurance dollars. I can just see the claims and then the resulting legislation requiring carriers to produce a NEW revised simple explanation of coverage and list of options that most agents could not figure out because of the limited space they give to explain the coverage. How do you take a 20 page policy and condense it to easily understood language in 2 pages?
Lawyers will be the only ones to make out in the country until people are held accountable for their own decissions and realize that the consequences can be painful. We no longer have to insure ourselves against other people we insure against lawyers.
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Not if the mtg. co requires it and I am willing to bet the vast majority of homes have a mtg.
More sound clips and nothing substantial.
The E & S market has 3 carriers selling an xsinkhole product now and its selling, and its closing just fine. Why would they want to prevent a deal in these slow times? Now all those Pasco attorneys can go back to to learning how to get their injury claims paid when FL\’s NO Fault law is repealed next year. Hopefully there won\’t be any more winners in this lottery.
I don\’t see your reasoning \”this is wrong\”. If the insured wants this coverage he should have to pay for it. That\’s been the problem with insurance and consumers in FL. They believe, or so protest, that \”everything \”should be covered at a \”bargain basement price\”. Now do you understand why insurance has become so hard to obtain in FL?
So the menu should be a\’la carte
Consumers should be able to pick and choose what they want to be insured against. What is an agent to do? He needs to make the sale, so does he just drop the sinkhole coverage? or how about that ever so expense wind coverage. Do most residents really need theft coverage, or should they be held responsible for properly securing their belongings? Hell most homes in Florida have new roofs, why don\’t we exclude coverage for new roofs or limit it to ACV only on older roofs?
If consumers are allowed to pick what coverage they want then agents must be held harmless for the decisions that consumers make about how they spend their insurance dollars. I can just see the claims and then the resulting legislation requiring carriers to produce a NEW revised simple explanation of coverage and list of options that most agents could not figure out because of the limited space they give to explain the coverage. How do you take a 20 page policy and condense it to easily understood language in 2 pages?
Lawyers will be the only ones to make out in the country until people are held accountable for their own decissions and realize that the consequences can be painful. We no longer have to insure ourselves against other people we insure against lawyers.