Demotech Downgrades 3 Carriers in Florida; Regulators Outraged

By William Rabb | August 4, 2022

  • August 4, 2022 at 2:40 pm
    Attorney says:
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    How can anyone be outraged over the truth? The Florida property insurance market is in free fall as 1/3 plus of premiums flow through to plaintiff attorneys. It’s probably closer to 45%. 5 years of red-ink. We are not far from just having to self-insure…….. CPIC is just that. The taxpayers of Florida will be paying claims and supplementing the income of Plaintiff attorneys.

    There are 2 types of insurance in the US………. 49 states and Florida, and you want to avoid Florida as every claim has substantial extra-contractual exposure because of FS 627.428. Eliminate the fee statute and you fix the problem. Well, except multi-millionaire lawyers, they would lose that supplemental income source.

    • August 8, 2022 at 11:04 am
      Dan Lavin says:
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      Amen!

      The Florida Plaintiff Attorneys have destroyed or are in the process of destroying both the Florida insurance industry and the Florida Mafia. Visualizing the history of the Mafia, the Mafia simply cannot compete: ” You cannot buy (I guess, lobby is the term) a Florida legislative member to vote for your interests when the legislative plaintiff attorney is already voting for his/their own self interests.

      As for being outraged, we should be outraged at the cause, not the effect!



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