This is clearly a spin on nothing. E&S is not FIGA protected, and rates are always higher than admitted market (98%) Charlie will be run out of town on a rail if we have a storm this year and his approval ratings will make George Bush’s look like he is everyones friend. Fact is this will not do ANYTHING to reduce rates for the average homeowner. E&S markets happen because they do not have to deal with the regulation and political crap, but now that they are assessible even they are not as good looking. We need national carriers not offshore start ups, think about it Charlie, you need to seek advise from people that know what this is all about and not act like a bully against carriers, they have an option to leave and many have left, consumers do not have options other than the state Citizens program. And when has the government EVER done anything good. I would gladly pay twice as much to be insured by a real company with known backing and reserves, not rely on my own back pocket to pay other peoples claims after a loss in the form of an assessment. This is socialistic and will never work
In the early 90’s during the auto insurance rate roll back fiasco in Pennsylvania the insurance department made such a big deal about new entrants to the Pennsylvania auto insurance market. Unknown to the public was that adequate rates were approved for the new entrants as they had no customers and inadequate rates were frozen in place for the companies with the customers. Is this the case here?
Wow, what a great line up of new companies to help out the average homeowner who is having their coverage non renewed. My, hasn’t the Governor done a fine job making the state an attractive venue!
In declaring that insurer’s want to enter the state Mr. McCarty must have missed the Governor’s announcement that he “put the final nail in the coffin” of the insurance companies. He must also have missed the one about not letting the door hit them on their way out. . .
There always was a surplus lines mkt.. These feeble HO admitted companies are a joke, when the Gov can brag that Htfd, St Paul etc want to write more business in Florida than he can rightfully chortle.
I have never, ever heard of a regulator touting a surplus lines writer as a new “entrant” to a state’s market. A surplus lines writer is, by definition, going out of their way not to enter the state.
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This is clearly a spin on nothing. E&S is not FIGA protected, and rates are always higher than admitted market (98%) Charlie will be run out of town on a rail if we have a storm this year and his approval ratings will make George Bush’s look like he is everyones friend. Fact is this will not do ANYTHING to reduce rates for the average homeowner. E&S markets happen because they do not have to deal with the regulation and political crap, but now that they are assessible even they are not as good looking. We need national carriers not offshore start ups, think about it Charlie, you need to seek advise from people that know what this is all about and not act like a bully against carriers, they have an option to leave and many have left, consumers do not have options other than the state Citizens program. And when has the government EVER done anything good. I would gladly pay twice as much to be insured by a real company with known backing and reserves, not rely on my own back pocket to pay other peoples claims after a loss in the form of an assessment. This is socialistic and will never work
In the early 90’s during the auto insurance rate roll back fiasco in Pennsylvania the insurance department made such a big deal about new entrants to the Pennsylvania auto insurance market. Unknown to the public was that adequate rates were approved for the new entrants as they had no customers and inadequate rates were frozen in place for the companies with the customers. Is this the case here?
Wow, what a great line up of new companies to help out the average homeowner who is having their coverage non renewed. My, hasn’t the Governor done a fine job making the state an attractive venue!
In declaring that insurer’s want to enter the state Mr. McCarty must have missed the Governor’s announcement that he “put the final nail in the coffin” of the insurance companies. He must also have missed the one about not letting the door hit them on their way out. . .
We’re open and ready for business, following successful resolution of our anvil exclusion issue with Commissioner McCarty.
I hope you also filed the “Falling off Cliff” exclusion and the “Boomerang to the Back of the Head” exclusion.
There always was a surplus lines mkt.. These feeble HO admitted companies are a joke, when the Gov can brag that Htfd, St Paul etc want to write more business in Florida than he can rightfully chortle.
Just tell me where to get the little sign that says “YIKES!” and I’ll take out coverage today.
Right on, JR. Good point!
I have never, ever heard of a regulator touting a surplus lines writer as a new “entrant” to a state’s market. A surplus lines writer is, by definition, going out of their way not to enter the state.