Florida Insurers Fight Emergency Rule

February 14, 2007

  • February 14, 2007 at 7:06 am
    TS says:
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    Hello…….The insurers like state farm and allstate etc need to quit bellyaching. The independent agents have been taking on their confused customers long enough. While they are dropping them the clients have called the independent agent confused with lapsed coverage and we have been gladly taking care of them. So far I think the governor has distilled the real confusion and heartache agents and consumers have been feeling from these direct writers dropping policies.

  • February 14, 2007 at 8:23 am
    Get real! says:
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    That\’s right!
    Ins Co have been making money hand over fist the past few years so why back out of the states that are all of a sudden high risk? So the officers can get their huge bonus\’and salaries!
    When the going gets tough and are to be controled they say oh well we just won\’t do business in that state anymore and pickup and leave. They say Walmart is unethical.
    Get ready Mid West you\’re the next victim.
    At least there is one state that the government is not being fed by special interest monies.

  • February 14, 2007 at 8:26 am
    Get real! says:
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    Your Right on there brother. PA\’s are there to bail their butts out and then get kicked to the side when it gets slow.
    We are also hit by the Ins price fixing bug!

  • February 14, 2007 at 12:49 pm
    DDT says:
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    Did you see the announcement today from State Farm regarding Mississippi.

    \”State Farm Insurance Cos. is suspending sales of any new commercial or homeowner policies in Mississippi effective Friday, citing in part a wave of litigation it has faced after Hurricane Katrina, a company official said Wednesday.

    Mike Fernandez, vice president of public affairs for State Farm, said Mississippi\’s \”current legal and political environment is simply untenable.\”

    This is a very slippery slope the states are taking. When the risk of doing business in a state outweighs the potential benefits the companies will just pick up thier ball and bat and go elsewhere.

  • February 14, 2007 at 1:09 am
    Vlad says:
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    You see comrades, we the government.. er people.. fixed the insurance crisis. You want to do business, then you shall do it our way.. and our way only, as has been decreed by the all powerful OZ er.. Florida Financial Services Commission.

  • February 14, 2007 at 3:39 am
    Public Adjuster says:
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    DON\’T LIKE BEING PUSHED AROUND BY SOMEONE BIGGER THAN YOU EH? EVERY BULLY GETS HIS TURN IN THE BARREL. IT\’S TIME TO DIP INTO THE TRILLIONS THEY\’VE GOT STASHED AWAY FROM PREVIOUS PROFITS.

  • February 14, 2007 at 3:54 am
    DDT says:
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    If you are naive enough to think that the insurance companies and made trillions in the state of Florida, then I doubt that you have accurately described your profession. Honestly, I think that all companies should follow the lead of State Farm in Mississippi and Auto Owners in Florida and just quite writing new business until the states decide that it is not in their best interest to legislate the intent of long established exclusion wording.

  • February 14, 2007 at 4:15 am
    Public Adjuster says:
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    I UNDERSTAND THAT LOCAL COMPANIES HAVEN\’T EARNED TRILLIONS IN FLORIDA ALONE, BUT THE MAJOR PLAYERS, STATE FARM, ALLSTATE ETC. HAVE RESERVES IN THE TRILLIONS.

    I BELIEVE THAT ALL GOVERNMENTS SHOULD FOLLOW THE LEAD OF NEW JERSEY IN THE 90\’S; THEY DEMANDED THAT ALL CARRIERS WHO DIDN\’T WANT TO INSURE AUTOS, BUT WANTED TO CHERRY PICK THE PROFITABLE BUSINESS TAKE THEIR BALL & BAT & GO ELSEWHERE.

    WHO\’DVE THOUGHT, THEY\’RE STILL THERE! HOW\’D THEY REMAIN PROFITABLE?

  • February 14, 2007 at 4:15 am
    Vlad says:
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    Buh-bye free market!!! Now we will see just how swell the socialist economy works!!!

  • February 14, 2007 at 4:27 am
    DDT says:
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    Again I question your profession. As you say, the major players may have trillions set up in reserves. Do you know what a reserve is?

    A reserve is the amount that is expected to be paid in the future on a reported loss.

    Ah… Yes I see your point, we do have trillions set up in reserves and are losing our shirts in the state.

    PS – New Jersey is a bad anology too since they have amended their practice and pricing requlations.



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