Fla. Customers, Politicians Still Looking for Insurance Rate Cuts

August 6, 2007

  • August 6, 2007 at 7:46 am
    chrome says:
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    Yea we all rust at some point.
    Actually you couldn’t be more wrong!
    Your assessment of my status and insurance needs couldn’t be more off the mark.
    I make sure I’m adequately covered because I know what I’m doing and I pay for it both in H.O. and P.C.!
    No claims ever and that’s what gets me.
    I have to pay for the petty a** claims that the people with money put in.

    I agree for the most part with Pensacola and still stand firm with my statement.

    Don’t mind anyone making money but it is out of control.

  • August 6, 2007 at 9:39 am
    Actuary says:
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    Yes, the profiteering by these insurance companies in Florida is disgusting. I mean, just look at the fincial results of the Homeowners Insurance Line of Business in Florida over the past 20 years, they’ve made a killing!! Also, they are making so much money at their current rate levels, that they are just leaving the state they are so rich instead of selling their product. Everybody knows the sign of a company that is making a huge profit is that they leave the business….

  • August 6, 2007 at 9:50 am
    chrome says:
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    Now you have it. They made their profits off the residents of Fl and other coastal states while there were no large losses and now that they have to pay they leave.
    Smart person. I’m glad someone else sees the light!
    LOOK AT HOW POOR THESE COMPANIES ARE.
    THEY HAVE HAD THEIR BEST PROFITS IN DECADES EVEN WITH THE MAJOR CATS AND THE LARGE BONUS’ I’M WHINING ABOUT!
    You’re an actuarial? Hm.

  • August 6, 2007 at 1:33 am
    Michael says:
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    He is about as dumb as they come. He doesn’t have a clue, not a single clue what he is talking about and when the next big storm comes, the citizens of Florida (I am one of them) will raise holy hell when they have to pay to bail out the state’s mismanagement. Unfortunately, it’s the insurance companies that will have to collect the state surcharges and it’s them who will look like the bandits. I can only hope that Governor Crist doesn’t try to hide behind that as just another insurance conmpany charging its customers higher premiums. He’s an ***. Sorry, there is no way to sugarcoat it.

  • August 6, 2007 at 1:54 am
    Richard Waldman says:
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    I am somewhat confused by the State Farm rhetoric. A 7% reduction from what and where.
    In 2007, examples from my experience:
    1-State Farm-$11,000 Me-$4,300
    2-State Farm-me-$1,800 savings (7/07)
    3-State Farm-me-$1,200 minimum savings, pending Windstorm Mitigation Report, should be higher afterwards.

    So I ask State Farm and our teriffic Governor, are the savings of 7% of these newer increased rates ? If so, they are still out of the pricing loop.

    Then they have the gall to cherrypick the Auto rates to lower rates than the overall market so they do not lose that business.

  • August 6, 2007 at 1:56 am
    Matt says:
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    Seems the good governor has aspirations of higher office in mind… The issue at stake for him is WHEN this path he’s on blows up and wrecks havoc on the citizens of Florida! If it works according to his plan, he’ll be a senator or president / VP by the time Florida is crushed by what he’s doing. By that time he can step in and “save Florida” by using Federal dollars to bail out the state from the problems he created. Politically genius if the “big one” holds off a few years. Downright sleazy, but politically genius. What a country!

  • August 6, 2007 at 2:02 am
    ClaimsGuy says:
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    Rates are a problem, but then Florida is a problem state when it comes to hurricanes. Always has been, always will be. People who choose to make it their home because they love the sunshine assume the risk of repeated, severe damage to their homes. Do they really expect an insurance company to pay to rebuild their homes multiple times? Getting whacked by a tropical storm or a hurricane isn’t a question of “if”, just a question of “when” and “how many times?” As the sports commentator Keith Jackson once said, “there’s no educational value in the SECOND kick of a mule.” Insurance companies should be allowed to price the property coverage based on the loss history of the state. I for one don’t wish to subsidize Florida residents. How can Crist expect a rate reduction and where does he get off telliing people “HE” will reduce rates?

  • August 6, 2007 at 2:08 am
    Panhandle agent says:
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    Hey, Matt, the plan worked for Bill Nelson, didn’t it? That’s a guy that doesn’t even know when to come in out of the rain, and after he stuck it to the insurance industry he rode that train to the US Senate. Crist is looking for a Veep slot, but no genuine conservative is going to tap a guy that has completely abandoned his conservative past.

  • August 6, 2007 at 3:16 am
    chrome says:
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    I’ve said it once and I’ll say it again insurance is legalized extorsion in this country.
    Unless they take away the CEO and CFO’s 2 times a year 6 digit bonus’plus salaries the consumer will always pay and theinsurance companies will run the other way.

  • August 6, 2007 at 3:38 am
    Pensacola Agent says:
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    Florida is a problem, every time the winds blow. The only way to “fix” the problem is for the wind to be calm and the free market system be allowed to work.. Yea, rates are high and coverage is tight and hard to find.. almost as hard as finding an good adjuster in 04 or 05. It is a wind problem not a government problem. The government does not need to be in the reinsurance business or should I say the taxpayers should not be in the reinsurance business.



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