The guy is doing what the voters wanted, which was to lower the cost of insurance. It is without regard to the competitive insurance marketplace. His whole plan is banking on having another mild, mild hurricane season in Florida again. Since everyone is predicting an overly active season for 2007, his plan may actually work for a year. (sarcasm against the predictors). The bad thing about the plan is that Florida is not luring the national carriers to Florida, nor encouraging the remaining to stay.
Hi, my name is John, and I\’m a recovering Charlie Crist voter. I haven\’t voted for Charlie in five months.
Crist is giving the voters, the public, what they want: lower premiums. He is doing so with absolutely no regard to the future. Everyone wants to live in Florida and have someone else pay the tab. It\’s the nature of the average citizen. It\’s a leader\’s job, like a parent, to say \”no\” at the right time, and Charlie has failed *miserably* in that regard.
I once thought Crist was merely uninformed, untrained in risk, finance, and global markets. I\’m not sure that\’s true. I think he\’s taking a big gamble here, hoping to rise as a political star if he wins, but if his roll of the dice comes up craps, Floridians will be the ones to pick up the tab.
And for those that warn of departure, I can assure you that most of the good, large carriers are gone or going already. When the governor calls you a bunch of crooks and invites you to leave, you do so. What we have left is but a shadow of the kind of carriers we once enjoyed.
But, if you want to be considered for a Vice Presidential ticket, it\’s evidently more effective to screech to the media and blame others than it is to fix the damn problem. (Personally, I think national politics will chew Charlie up and spit him out.)
The crisis in Florida for property insurance (read: not just homeowners are suffering) has been growing for almost a century now. I live in Florida, and due to circumstances, don\’t really have the option to pack up and move. I also don\’t live in a timebomb (read: multi-million dollar home built on the coast). The coastal barriers are not supposed to have homes built on them, they are nature\’s way to protect the rest of the state. Sure, my homeowner\’s premiums have gone up (about 200% in the last 2 years), but they are not going to \”break the bank\”, because my home is a reasonable home that I can afford, without stretching myself too far.
Here\’s part of a REAL solution:
1. Protect the property you\’ve got. The more I protect my own property, the lower my rates should be, right?
2. Don\’t build on \”ground 0\”. Ocean front property is a loosing proposition, and every year, I see more and more outrageous homes/condos built RIGHT on the coast. These are the first people to whine when a Noreaster hangs out for a week or so, and errodes the coast, and the first to complain about how high the cost of living in FL is.
3. Buck up and pay the price. The economics of insurance dictate that I pay for insurance for risks I don\’t wnat to assume myself. Funny thing, with the chances of having WIndstorm damage in Florida at the level they are, theres a good chance you\’ll need that insurance, which is why its so expensive. I couldn\’t replace my roof for what my homeowners is for a year.
::Hopping off the sopabox now ::
They give huge tax and cash incentives for companies to come to Florida (remember Scripps)and then encourage good Insurance Companies to leave…all paid for by us. Reckless is a dangerous policy for us taxpayers to fund.
Wait until the homeowners figure out that Mr. Crist has given them a take-all-comers self-insurance program. At least it\’s backed by a state-run insurer. Oh yeah, they have a $1 billion deficit, are charging inadequate rates that are frozen until 2009, and are increasing their risk appetite.
Guess all you \”posters\” can afford the premiums. Governor Crist has stuck his neck out to help the people of Florida in a time of crisis! Our past Governor did not want to hear about us and made the problem worse! This is a very complex \”crisis\”, couoled with property tax and a trickle down effect that could cripple the economy of florida.I could not start to go into the whole thing here. As a Board memebr of HAC Florida, Inc. (having affordable coverge) we see the hurt on a daily basis. Thousands of forclosures, people going uninsured because they cannot pay to insure their \”American Dream\”. Insurance companies reporting huge quarterly profits and more than huge bonuses to CEO. Did their stockholders get big bonuses? Hac has worked with Governor Crist and the Legislators, to get as much relief as possible, it this time. A major undertaking and as I stated, very complex.
Any help is better than none right now for a majority of homeowners in Florida. If you can afford this, I am glad for you, but you are not the majority. Want to know more? Follow us at http://www.hacfl.org
This is not a time of crisis. The crisis is coming in two waves: 1] the next huricane that costs more than the reserves and cashflow of Citizens can handle 2] the ocean level raising 20 feet over the next 50 years.
The people of FL have big problems that will require large pools of money. These little fixes help no one.
God be with you because Crist and company will be long gone when you\’re home can\’t be fixed by Citizens and/or your home is under water.
Did Crist use the theme song from the movie \’Deliverence\’ in his campaign? I hear a lot of squeeling like a pig coming from the electorate.
When the wind blows the homeowners of Florida will pay dearly. It took insurers 11 years (1993-2003) to erase the UW loss associated with Andrew, but the 4 hurricanes of 2004 erased the prior 7 years of profits & 2005 deepened the hole.
The risk that Crist has put on the citizens of Florida could cost each household $14,000 in assessments if we get a major storm, according to a study by Towers Perrin /Tillinghast.
Do your members of HAC endorse this ????
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The guy is doing what the voters wanted, which was to lower the cost of insurance. It is without regard to the competitive insurance marketplace. His whole plan is banking on having another mild, mild hurricane season in Florida again. Since everyone is predicting an overly active season for 2007, his plan may actually work for a year. (sarcasm against the predictors). The bad thing about the plan is that Florida is not luring the national carriers to Florida, nor encouraging the remaining to stay.
Hi, my name is John, and I\’m a recovering Charlie Crist voter. I haven\’t voted for Charlie in five months.
Crist is giving the voters, the public, what they want: lower premiums. He is doing so with absolutely no regard to the future. Everyone wants to live in Florida and have someone else pay the tab. It\’s the nature of the average citizen. It\’s a leader\’s job, like a parent, to say \”no\” at the right time, and Charlie has failed *miserably* in that regard.
I once thought Crist was merely uninformed, untrained in risk, finance, and global markets. I\’m not sure that\’s true. I think he\’s taking a big gamble here, hoping to rise as a political star if he wins, but if his roll of the dice comes up craps, Floridians will be the ones to pick up the tab.
And for those that warn of departure, I can assure you that most of the good, large carriers are gone or going already. When the governor calls you a bunch of crooks and invites you to leave, you do so. What we have left is but a shadow of the kind of carriers we once enjoyed.
But, if you want to be considered for a Vice Presidential ticket, it\’s evidently more effective to screech to the media and blame others than it is to fix the damn problem. (Personally, I think national politics will chew Charlie up and spit him out.)
The crisis in Florida for property insurance (read: not just homeowners are suffering) has been growing for almost a century now. I live in Florida, and due to circumstances, don\’t really have the option to pack up and move. I also don\’t live in a timebomb (read: multi-million dollar home built on the coast). The coastal barriers are not supposed to have homes built on them, they are nature\’s way to protect the rest of the state. Sure, my homeowner\’s premiums have gone up (about 200% in the last 2 years), but they are not going to \”break the bank\”, because my home is a reasonable home that I can afford, without stretching myself too far.
Here\’s part of a REAL solution:
1. Protect the property you\’ve got. The more I protect my own property, the lower my rates should be, right?
2. Don\’t build on \”ground 0\”. Ocean front property is a loosing proposition, and every year, I see more and more outrageous homes/condos built RIGHT on the coast. These are the first people to whine when a Noreaster hangs out for a week or so, and errodes the coast, and the first to complain about how high the cost of living in FL is.
3. Buck up and pay the price. The economics of insurance dictate that I pay for insurance for risks I don\’t wnat to assume myself. Funny thing, with the chances of having WIndstorm damage in Florida at the level they are, theres a good chance you\’ll need that insurance, which is why its so expensive. I couldn\’t replace my roof for what my homeowners is for a year.
::Hopping off the sopabox now ::
Charlie Crist superstar has been holding his head to the fire. Some guys just have to learn the hard way.
Marine risks have been underwritten for nearly 5000 years. (Chinese merchants.)
London underwriters have been providing marine covers for more than 300 years.
US insurance companies have been underwriting fire risk for about 250 years. (Ask Ben Franklin)
National carriers have been underwriting the wind risk, seriously, for about 15 years. (Since Andrew, for the most part)
The underwriting of Florida\’s political risk, however, is still in its infancy.
Do these politicans understand economics?
They give huge tax and cash incentives for companies to come to Florida (remember Scripps)and then encourage good Insurance Companies to leave…all paid for by us. Reckless is a dangerous policy for us taxpayers to fund.
Wait until the homeowners figure out that Mr. Crist has given them a take-all-comers self-insurance program. At least it\’s backed by a state-run insurer. Oh yeah, they have a $1 billion deficit, are charging inadequate rates that are frozen until 2009, and are increasing their risk appetite.
Guess all you \”posters\” can afford the premiums. Governor Crist has stuck his neck out to help the people of Florida in a time of crisis! Our past Governor did not want to hear about us and made the problem worse! This is a very complex \”crisis\”, couoled with property tax and a trickle down effect that could cripple the economy of florida.I could not start to go into the whole thing here. As a Board memebr of HAC Florida, Inc. (having affordable coverge) we see the hurt on a daily basis. Thousands of forclosures, people going uninsured because they cannot pay to insure their \”American Dream\”. Insurance companies reporting huge quarterly profits and more than huge bonuses to CEO. Did their stockholders get big bonuses? Hac has worked with Governor Crist and the Legislators, to get as much relief as possible, it this time. A major undertaking and as I stated, very complex.
Any help is better than none right now for a majority of homeowners in Florida. If you can afford this, I am glad for you, but you are not the majority. Want to know more? Follow us at http://www.hacfl.org
This is not a time of crisis. The crisis is coming in two waves: 1] the next huricane that costs more than the reserves and cashflow of Citizens can handle 2] the ocean level raising 20 feet over the next 50 years.
The people of FL have big problems that will require large pools of money. These little fixes help no one.
God be with you because Crist and company will be long gone when you\’re home can\’t be fixed by Citizens and/or your home is under water.
Did Crist use the theme song from the movie \’Deliverence\’ in his campaign? I hear a lot of squeeling like a pig coming from the electorate.
When the wind blows the homeowners of Florida will pay dearly. It took insurers 11 years (1993-2003) to erase the UW loss associated with Andrew, but the 4 hurricanes of 2004 erased the prior 7 years of profits & 2005 deepened the hole.
The risk that Crist has put on the citizens of Florida could cost each household $14,000 in assessments if we get a major storm, according to a study by Towers Perrin /Tillinghast.
Do your members of HAC endorse this ????