Since Florida’s legislative Magic Wand didn’t work, now Mahoney wants to create a Federal Magic Wand. When will good risk and capital management ever occur to these guys?
You’re right, Good Hands. The Florida Legislature’s interference in the market has lengthened and deepened their homwonwers problems. If they left the market function, it would have stabilized by now and prices would start falling after this reinsurance renewal season. But, noooooo, they gotta do “something” to make it look like they are doing something.
Yes the legislature State of Florida politicized the Hurricanes of 04 & 05 into a lets hate insurance companies. Its been very successful for Crist. 70% approval rating not bad huh.
The National Cat fund is not a bad idea, In long term it could even out the peaks and valleys of the hard and soft markets. It gives protection for some smaller states (MS AL SC) or those large ones who can not keep their house in order. (CA and FL. Problem if it is successful look for more government involvement in risk financing and keep your eye on the ball otherwise one day we will look in the bank and there will be one big IOU.
I agree with Good Hands and related comments, and I think it pretty much says it all that this bill is sponsored by two freshman democrats from Florida.
Mr. no name, could you at least make an attempt to post responses in the right line? This is the second posting from you I have seen today that has nothing to do with the article. Your posts are generally nonsense, but might make a little sense posted with the right article.
Until I see the people from the sunshine states worry about the 9 feet of snow, high taxes and energy bills here in the great white north I don’t see this ever happening. Those of us who don’t enjoy the benefits of southern living should not have to pay for it’s detriments.
Yeah, and quit whining about tornadoes in the Midwest or wild fires in California – somehow we seem to cope with these “natural disasters” just fine. Maybe the politicians in Florida could get some backbone and start dealing with the runaway development on the coast and butt out of the private market. I’ve followed this issue closely for the last two years, and the absolute ignorance of these people where it comes to insurance is beyond belief.
In reading the summary of the bill it appears as if only states with a state cat fund can tap the federal $$. If rates in my state are already set up to deal with the occasional tornado and my state does not have a cat fund, how can the FL represenatives claim that this will help my tornado risk?
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State farm really likes to have things in court seal why is that mr Nobody Important?????? I thing this is Important.
Since Florida’s legislative Magic Wand didn’t work, now Mahoney wants to create a Federal Magic Wand. When will good risk and capital management ever occur to these guys?
You’re right, Good Hands. The Florida Legislature’s interference in the market has lengthened and deepened their homwonwers problems. If they left the market function, it would have stabilized by now and prices would start falling after this reinsurance renewal season. But, noooooo, they gotta do “something” to make it look like they are doing something.
Obama will take care of it as he talks so well
Yes the legislature State of Florida politicized the Hurricanes of 04 & 05 into a lets hate insurance companies. Its been very successful for Crist. 70% approval rating not bad huh.
The National Cat fund is not a bad idea, In long term it could even out the peaks and valleys of the hard and soft markets. It gives protection for some smaller states (MS AL SC) or those large ones who can not keep their house in order. (CA and FL. Problem if it is successful look for more government involvement in risk financing and keep your eye on the ball otherwise one day we will look in the bank and there will be one big IOU.
I agree with Good Hands and related comments, and I think it pretty much says it all that this bill is sponsored by two freshman democrats from Florida.
Mr. no name, could you at least make an attempt to post responses in the right line? This is the second posting from you I have seen today that has nothing to do with the article. Your posts are generally nonsense, but might make a little sense posted with the right article.
Until I see the people from the sunshine states worry about the 9 feet of snow, high taxes and energy bills here in the great white north I don’t see this ever happening. Those of us who don’t enjoy the benefits of southern living should not have to pay for it’s detriments.
Yeah, and quit whining about tornadoes in the Midwest or wild fires in California – somehow we seem to cope with these “natural disasters” just fine. Maybe the politicians in Florida could get some backbone and start dealing with the runaway development on the coast and butt out of the private market. I’ve followed this issue closely for the last two years, and the absolute ignorance of these people where it comes to insurance is beyond belief.
In reading the summary of the bill it appears as if only states with a state cat fund can tap the federal $$. If rates in my state are already set up to deal with the occasional tornado and my state does not have a cat fund, how can the FL represenatives claim that this will help my tornado risk?