I’m a Florida resident, and oddly enough, no one asked me if I thought this was a good idea! I shudder to think what’s going to happen in this State if we DO get hit with even one fairly good-sized hurricane. And no, I did NOT vote for Crist. Had a bad feeling about him from the start!
Interesting. Citizens can’t make money, yet there are new “take-out” companies in the Florida marketplace offering agents higher commissions and slightly lower rates that Citizens. And they need loans to get started. I realize Citizens is a bad deal, but aren’t these take-outs worse? Additionally, they’re taking these Citizens “sight un-seen”.
But Governor Charlie can tell us all ” State Farm, Allstate, Hartford might be leaving us but I’ve delivered you several great replacements to offer you coverage!” No thanks.
Completely in agreement with you Dave.
If I can get a few friends together and raise 5M, I too will take out a few Citizens policies, pay ourselves big salaries, and let FIGA take care of things when the wind blows.
Takeout companies are a blessing to this State if they are re-insured correctly and managed by experienced people . Do your homework prior to accepting the takeouts and explain it to your customers.
Unfortunately we have to continue playing the Charlie game for a few more years, or until we get hit. And we will!
Actually those companies are probably the smartest players in the market.
They set themselves up to take out selected risks from Citizens. They know going in that should a devastating storm hit they are going to go under, yet by taking the selected risks they have a pretty good chance of avoid that situation.
Secondly, even if they get hit by the big one they know that they will be bailed out.
That leaves them in a pretty good position if you ask me.
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Imagine that Florida decided to accept the risk. They are accepting it with someone else’s wallet in there hand.
I’m a Florida resident, and oddly enough, no one asked me if I thought this was a good idea! I shudder to think what’s going to happen in this State if we DO get hit with even one fairly good-sized hurricane. And no, I did NOT vote for Crist. Had a bad feeling about him from the start!
Isn’t that the definition of a politician? Someone who spends other peoples money.
Interesting. Citizens can’t make money, yet there are new “take-out” companies in the Florida marketplace offering agents higher commissions and slightly lower rates that Citizens. And they need loans to get started. I realize Citizens is a bad deal, but aren’t these take-outs worse? Additionally, they’re taking these Citizens “sight un-seen”.
But Governor Charlie can tell us all ” State Farm, Allstate, Hartford might be leaving us but I’ve delivered you several great replacements to offer you coverage!” No thanks.
What do you expect from Charlie ?? Competence ?? Accountabilty ?? FREE ENTERPRISE, CHARLIE…Let capitalism reign..
Completely in agreement with you Dave.
If I can get a few friends together and raise 5M, I too will take out a few Citizens policies, pay ourselves big salaries, and let FIGA take care of things when the wind blows.
Takeout companies are a blessing to this State if they are re-insured correctly and managed by experienced people . Do your homework prior to accepting the takeouts and explain it to your customers.
Unfortunately we have to continue playing the Charlie game for a few more years, or until we get hit. And we will!
Actually those companies are probably the smartest players in the market.
They set themselves up to take out selected risks from Citizens. They know going in that should a devastating storm hit they are going to go under, yet by taking the selected risks they have a pretty good chance of avoid that situation.
Secondly, even if they get hit by the big one they know that they will be bailed out.
That leaves them in a pretty good position if you ask me.