There is some good discussion on this thread. Apparently, Jim is an agent and has helped many people. His phone # is in there somewhere, as well as his website.
Good luck!
From the mean, mean insurance lady Kathy warned you about… ;)
Funny thing Kathy because I am not an agent nor do I deal with homeowners insurance at my job.
Lowering the cost of insurance means I don\’t lose my home this year. Okay, so I might lose it in a couple of years, but it won\’t be foreclosed on THIS year. (and yes, that was a real possibility)
As far as auto policy holders go, if the 30% of Fla drivers that DON\’T CARRY insurance (that we already pay higher premiums for, BTW) were forced to get it, that would help the premiums and surcharges.
Developement in high risk areas? They haven\’t even slowed down – higher premiums aren\’t going to stop them and lower premiums aren\’t going to encourage them. We don\’t even have enough water for them, but that won\’t stop them, either.
Renters paying more? Lower premiums do really mean that more people won\’t have to rent, they can afford to buy.
With every disaster that\’s hit the US in the last few months, and not JUST in Fla, BTW- I see insurance companies pulling out of roughly 20% of all states if they are allowed to do so. 10 states have been hit since January with catastrophes.
Or they are allowed to triple their premiums and middle class gets eroded further into bankruptcy and foreclosure so the CEO\’s can make million dollar bonuses.
Yes, Insurance is supposed to work by spreading the risk, but it\’s also supposed to work by each participant paying in an amount of premium that reflects the amount of risk being spread. The Florida Office of Insurance Regulation will not let companies set Homeowners rates at an adequate level.
Yes, there are many years when Florida does not experience a major hurricane, and the insurance industry nets a big profit those years. This profit has not been enough historically to offset the tremendous losses insurance companies suffer in the years when a major hurricane does hit. The company I work for has experienced a >100% loss ratio in the Florida Homeowners market over the past 10 years. It takes about a 70-75% loss ratio to turn a profit. That sound like excessive premiums to you?
What you don\’t understand is it is not a matter of whether or not I can afford the premiums or not. The point is the fact that I don\’t want my money given away in gobs to a greed based industry and I CARE about the people who can not afford to pay these outrageous premiums so that the CEO\’s of these companies can continue to rake in the billions! Don\’t tell me I don\’t understand how it works when I have as much knowledge about the industry as you do. The difference is I don\’t make my income in a fradulent and greedy way. It has been well proven that there is a tremendous amount of fraud in the insurance industry and we all know it is a greed driven market. After Katrina a lot of the fraud was exposed and there is more to come. It dosen\’t matter how many of you \”insurance folks\” try and beat me down, I guess that\’s part of your job too. I do what I do for the people not for profit and simply because I don\’t like to see people suffer. I am not a socalists and think too much government is not a good thing but the government is there to protect the people and that is exactly what the government of the state of Florida is doing. We the people of Florida will continue to stand tall against the billion dollar industry and fight in any way we can for fair and reasonable insurance premiums in this state, even if that means moving the private market out!
Please…Are you trying to tell me that the insurance industry is only making a small amount of profit…or LOOSING profit? Do you not read…this article is from THIS website.
State Farm Insurance\’s chairman and CEO received an 82 percent raise after the company posted a record profit last year, a statement from the Bloomington-Ill.-based insurer said this week.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He earned $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, the statement said. Rust made $6.4 million in 2005 and $5.5 million in 2004.
The absence of a major catastrophe helped the insurer generate a record $5.32 billion profit last year, compared to $3.24 billion in 2005 when Hurricane Katrina hit the Mississippi Gulf Coast, release said.
I live in Palm Harbor on the East side of US 19. I am NOT a coastal property.
So because YOU got your claim paid, everything is \”ok\” and screw those who didn\’t! That\’s nice! I hope you are not teaching our children that!! As a history teacher maybe YOU should do some homework and read how many Billions the insurance industry has made off the backs of hard working and retirees. (read my last post) Also you know by history that greed has caused the downfall of many great countries. Also the fact is government is in place to protect people…that is it\’s MAIN responsibility and our Florida Government is doing just that by putting the reins on the insurance industry and trying to keep the people of Florida from loosing their homes due to the greed of the insurance industry.
No Dear,
If it weren\’t for Citizens over 1 million people in Florida would not have ANY insurance because the private insurers stoped writing policies and for the other people who are now \”choosing\” to insure with Citizens it keeps them from loosing their homes.
Let me see if I got this straight… The big, bad insurnace companies are to blame for the high rates in Florida. The fact that since 1950, there have been over 30 hurricanes that have made landfall in Florida! Somehow your logic escapes me.
Who\’s loosing money???? If you want to pass blame then Blame the private insurance industry for creating Citizens because it refused to write policies in Florida!!
State Farm Insurance\’s chairman and CEO received an 82 percent raise after the company posted a record profit last year, a statement from the Bloomington-Ill.-based insurer said this week.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He earned $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, the statement said. Rust made $6.4 million in 2005 and $5.5 million in 2004.
The absence of a major catastrophe helped the insurer generate a record $5.32 billion profit last year, compared to $3.24 billion in 2005 when Hurricane Katrina hit the Mississippi Gulf Coast, release said
YUP….you got it straight! It\’s the Big Bad Insurance Companies over inflating people\’s premiums so they can continue to post RECORD profits EVEN through ALL the Hurricanes!
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http://www.insurancejournal.com/news/southeast/2006/05/15/68356.htm
There is some good discussion on this thread. Apparently, Jim is an agent and has helped many people. His phone # is in there somewhere, as well as his website.
Good luck!
From the mean, mean insurance lady Kathy warned you about… ;)
Funny thing Kathy because I am not an agent nor do I deal with homeowners insurance at my job.
Lowering the cost of insurance means I don\’t lose my home this year. Okay, so I might lose it in a couple of years, but it won\’t be foreclosed on THIS year. (and yes, that was a real possibility)
As far as auto policy holders go, if the 30% of Fla drivers that DON\’T CARRY insurance (that we already pay higher premiums for, BTW) were forced to get it, that would help the premiums and surcharges.
Developement in high risk areas? They haven\’t even slowed down – higher premiums aren\’t going to stop them and lower premiums aren\’t going to encourage them. We don\’t even have enough water for them, but that won\’t stop them, either.
Renters paying more? Lower premiums do really mean that more people won\’t have to rent, they can afford to buy.
With every disaster that\’s hit the US in the last few months, and not JUST in Fla, BTW- I see insurance companies pulling out of roughly 20% of all states if they are allowed to do so. 10 states have been hit since January with catastrophes.
Or they are allowed to triple their premiums and middle class gets eroded further into bankruptcy and foreclosure so the CEO\’s can make million dollar bonuses.
JMHO
Yes, Insurance is supposed to work by spreading the risk, but it\’s also supposed to work by each participant paying in an amount of premium that reflects the amount of risk being spread. The Florida Office of Insurance Regulation will not let companies set Homeowners rates at an adequate level.
Yes, there are many years when Florida does not experience a major hurricane, and the insurance industry nets a big profit those years. This profit has not been enough historically to offset the tremendous losses insurance companies suffer in the years when a major hurricane does hit. The company I work for has experienced a >100% loss ratio in the Florida Homeowners market over the past 10 years. It takes about a 70-75% loss ratio to turn a profit. That sound like excessive premiums to you?
What you don\’t understand is it is not a matter of whether or not I can afford the premiums or not. The point is the fact that I don\’t want my money given away in gobs to a greed based industry and I CARE about the people who can not afford to pay these outrageous premiums so that the CEO\’s of these companies can continue to rake in the billions! Don\’t tell me I don\’t understand how it works when I have as much knowledge about the industry as you do. The difference is I don\’t make my income in a fradulent and greedy way. It has been well proven that there is a tremendous amount of fraud in the insurance industry and we all know it is a greed driven market. After Katrina a lot of the fraud was exposed and there is more to come. It dosen\’t matter how many of you \”insurance folks\” try and beat me down, I guess that\’s part of your job too. I do what I do for the people not for profit and simply because I don\’t like to see people suffer. I am not a socalists and think too much government is not a good thing but the government is there to protect the people and that is exactly what the government of the state of Florida is doing. We the people of Florida will continue to stand tall against the billion dollar industry and fight in any way we can for fair and reasonable insurance premiums in this state, even if that means moving the private market out!
Please…Are you trying to tell me that the insurance industry is only making a small amount of profit…or LOOSING profit? Do you not read…this article is from THIS website.
State Farm Insurance\’s chairman and CEO received an 82 percent raise after the company posted a record profit last year, a statement from the Bloomington-Ill.-based insurer said this week.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He earned $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, the statement said. Rust made $6.4 million in 2005 and $5.5 million in 2004.
The absence of a major catastrophe helped the insurer generate a record $5.32 billion profit last year, compared to $3.24 billion in 2005 when Hurricane Katrina hit the Mississippi Gulf Coast, release said.
I live in Palm Harbor on the East side of US 19. I am NOT a coastal property.
So because YOU got your claim paid, everything is \”ok\” and screw those who didn\’t! That\’s nice! I hope you are not teaching our children that!! As a history teacher maybe YOU should do some homework and read how many Billions the insurance industry has made off the backs of hard working and retirees. (read my last post) Also you know by history that greed has caused the downfall of many great countries. Also the fact is government is in place to protect people…that is it\’s MAIN responsibility and our Florida Government is doing just that by putting the reins on the insurance industry and trying to keep the people of Florida from loosing their homes due to the greed of the insurance industry.
No Dear,
If it weren\’t for Citizens over 1 million people in Florida would not have ANY insurance because the private insurers stoped writing policies and for the other people who are now \”choosing\” to insure with Citizens it keeps them from loosing their homes.
Let me see if I got this straight… The big, bad insurnace companies are to blame for the high rates in Florida. The fact that since 1950, there have been over 30 hurricanes that have made landfall in Florida! Somehow your logic escapes me.
Who\’s loosing money???? If you want to pass blame then Blame the private insurance industry for creating Citizens because it refused to write policies in Florida!!
State Farm Insurance\’s chairman and CEO received an 82 percent raise after the company posted a record profit last year, a statement from the Bloomington-Ill.-based insurer said this week.
Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He earned $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, the statement said. Rust made $6.4 million in 2005 and $5.5 million in 2004.
The absence of a major catastrophe helped the insurer generate a record $5.32 billion profit last year, compared to $3.24 billion in 2005 when Hurricane Katrina hit the Mississippi Gulf Coast, release said
YUP….you got it straight! It\’s the Big Bad Insurance Companies over inflating people\’s premiums so they can continue to post RECORD profits EVEN through ALL the Hurricanes!