I don’t know where you are getting information regarding gouging. I’m seeing other companies policies that are 2, 3 and 4 times the price that Allstate was charging. I hope that we don’t have it happen, but the next bad hurricane season that we see in Florida is going to open a lot of eyes. The surcharges that Citizens is currently putting on every insurance policy in the state, is going to be a drop in the bucket of what will be. Risk modeling is not perfect, but prices must reflect the risk. Face it, Florida is a huge risk.
I believe that was Mark’s point. If Allstate were gouging, they wouldn’t have written any policies. Customer’s shop for prices. If Allstate were 20% higher than other carriers, they woudn’t have written any policies. That’s why he said it DOESN’T fly.
Good points “living it”. One addition. The OIR is not adversarial with all insurance companies. They seem to be allowing these new companies with practically no money to start writing in Florida. Then Crist can beat his chest and tell us all “we don’t need Allstate, look at who we’ve brought to Florida consumers”. Thanks, Charlie. Glad you’re on our side.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
I don’t know where you are getting information regarding gouging. I’m seeing other companies policies that are 2, 3 and 4 times the price that Allstate was charging. I hope that we don’t have it happen, but the next bad hurricane season that we see in Florida is going to open a lot of eyes. The surcharges that Citizens is currently putting on every insurance policy in the state, is going to be a drop in the bucket of what will be. Risk modeling is not perfect, but prices must reflect the risk. Face it, Florida is a huge risk.
I believe that was Mark’s point. If Allstate were gouging, they wouldn’t have written any policies. Customer’s shop for prices. If Allstate were 20% higher than other carriers, they woudn’t have written any policies. That’s why he said it DOESN’T fly.
Good points “living it”. One addition. The OIR is not adversarial with all insurance companies. They seem to be allowing these new companies with practically no money to start writing in Florida. Then Crist can beat his chest and tell us all “we don’t need Allstate, look at who we’ve brought to Florida consumers”. Thanks, Charlie. Glad you’re on our side.