I think what you are starting to see is the entire population of this country is noticing the amount of money executives are putting in their pockets,as bonus’, and then saying thier companies are not making money.
If an insurance company is not making money in this day and age they are mismanaging monies paid by policy holders in the way of premiums.
Enough is enough! Manage you finances responsibly or go out of business after all isn;t that what happens in the real world.
I could give a rats a_ _ if State Farm or any other company flops. They are paying out too much in bonus money god knows the claimants have a difficult enough time collecting on their policies if they suffer a loss then their premiums increase afterwards.Bad credit premium increase.Bad dog premium increase,health issues premium increase,increase,increase,increase,increase.
I mean let’s get real here.
Pud has no notion of what real is. Real is that a company that is losing money on an item needs to either get more money for it or stop selling it. Pud and the idiots at the State of Florida know nothing about insurance, just politics. I just wish I could tell the companies I buy products from that they are unfair and they will have to sell my goods at a loss. That would go over real big. Pud has always been a moron in his posts.
The greedy neighbor will get their day in arbitration, threaten to pull out and threaten the governor.
They just wrote my friend a $750,000 house policy last month for $1400. They never stopped writing. Stop the bs and grant them the rate increase outta here and since it is a mutual company the insureds own the company. If they lost so much money why not fire the leader for Florida for grossly mismanging the money and lobbyists.
State Farm needs to follow the same script of every other “Florida based” homeowners company that Crist has brought to us: create a company that barely meets the Florida standards for solvency, strip away the coverage, remove coverage options, and prepare to let the taxpayers pay for the insolvency when it occurs. Then they wouldn’t need a rate increase.
They want to raise rates for future hurricanes. That’s a laugh! They have denied so many since 2004 Ivan which I have not collected on. Now they want more money to fill their pockets.All they are money hungry.Please deny the rate hike.
The spin that comes out of the OIR communications office portrays the anti-business mindset. “Rate increases” are now referred to negatively with phrases such as “Rate Hikes” or “jacking up rates.” I learned once that the regulator’s role was to assure rates were adequate and neither excessive nor unfairly discriminatory. In Florida that language is long-since forgotten.
Did you read the article Ed? They paid out more than they took in. Period. The fact that the national company (a separate company) makes money is not relevant to Florida. Of course that doesn’t make any difference to Crist & his band of morons who “regulate” insurance in the state. Keep on driving companies from the state & pray you never have a big hurricane. Great plan. Good luck with that one.
One of the reasons State Farm indicated they needed the rate hike was to bring more $$ in the door because too many of their consumers are trying to mitigate future damages by “hardening” their homes against future hurricanes and thus becoming eligible for discounted rates.
Is it just me getting it wrong or does a stronger home mean that is less likely that State Farm will have to pay out Big $ down the road?
State Farm is saying We need more money because in the future we will have to pay out less money…..Hmmm…I’m stumped by that logic.
Two things: 1) Give them their rate increase, and anyone dumb enough to pay the price deserves to be their customer.
2. Last time I checked, SF has limited their liability in Florida, and the parent company has not indemnified the Florida Company in writing or any other way other than the required standards of the DFS. The percieved Deep Pocket is no longer there. Check their current filing. They are for all intensive purposes a Franchise of the parent company. Their Florida Company “STANDS ALONE.”..DUH
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I think what you are starting to see is the entire population of this country is noticing the amount of money executives are putting in their pockets,as bonus’, and then saying thier companies are not making money.
If an insurance company is not making money in this day and age they are mismanaging monies paid by policy holders in the way of premiums.
Enough is enough! Manage you finances responsibly or go out of business after all isn;t that what happens in the real world.
I could give a rats a_ _ if State Farm or any other company flops. They are paying out too much in bonus money god knows the claimants have a difficult enough time collecting on their policies if they suffer a loss then their premiums increase afterwards.Bad credit premium increase.Bad dog premium increase,health issues premium increase,increase,increase,increase,increase.
I mean let’s get real here.
Pud has no notion of what real is. Real is that a company that is losing money on an item needs to either get more money for it or stop selling it. Pud and the idiots at the State of Florida know nothing about insurance, just politics. I just wish I could tell the companies I buy products from that they are unfair and they will have to sell my goods at a loss. That would go over real big. Pud has always been a moron in his posts.
The greedy neighbor will get their day in arbitration, threaten to pull out and threaten the governor.
They just wrote my friend a $750,000 house policy last month for $1400. They never stopped writing. Stop the bs and grant them the rate increase outta here and since it is a mutual company the insureds own the company. If they lost so much money why not fire the leader for Florida for grossly mismanging the money and lobbyists.
They make these statements as if it were a big decision for them to reject a rate increase. As someone posted the other day
Decrease – accepted
Increase – rejected
Standard proceedure in the FL DOI
State Farm needs to follow the same script of every other “Florida based” homeowners company that Crist has brought to us: create a company that barely meets the Florida standards for solvency, strip away the coverage, remove coverage options, and prepare to let the taxpayers pay for the insolvency when it occurs. Then they wouldn’t need a rate increase.
They want to raise rates for future hurricanes. That’s a laugh! They have denied so many since 2004 Ivan which I have not collected on. Now they want more money to fill their pockets.All they are money hungry.Please deny the rate hike.
The spin that comes out of the OIR communications office portrays the anti-business mindset. “Rate increases” are now referred to negatively with phrases such as “Rate Hikes” or “jacking up rates.” I learned once that the regulator’s role was to assure rates were adequate and neither excessive nor unfairly discriminatory. In Florida that language is long-since forgotten.
Did you read the article Ed? They paid out more than they took in. Period. The fact that the national company (a separate company) makes money is not relevant to Florida. Of course that doesn’t make any difference to Crist & his band of morons who “regulate” insurance in the state. Keep on driving companies from the state & pray you never have a big hurricane. Great plan. Good luck with that one.
One of the reasons State Farm indicated they needed the rate hike was to bring more $$ in the door because too many of their consumers are trying to mitigate future damages by “hardening” their homes against future hurricanes and thus becoming eligible for discounted rates.
Is it just me getting it wrong or does a stronger home mean that is less likely that State Farm will have to pay out Big $ down the road?
State Farm is saying We need more money because in the future we will have to pay out less money…..Hmmm…I’m stumped by that logic.
Two things: 1) Give them their rate increase, and anyone dumb enough to pay the price deserves to be their customer.
2. Last time I checked, SF has limited their liability in Florida, and the parent company has not indemnified the Florida Company in writing or any other way other than the required standards of the DFS. The percieved Deep Pocket is no longer there. Check their current filing. They are for all intensive purposes a Franchise of the parent company. Their Florida Company “STANDS ALONE.”..DUH