Posted on 07/14/2023 10:46:31 AM PDT by backpacker_c
Property Insurance experts are weighing in on one state senator’s call for another special session to address the skyrocketing cost of property insurance for millions of Floridians.
Gov. DeSantis is also urging patience, and quote “knocking on wood that we won’t have a big storm this summer.”
“So knock on wood (that) we won’t have a big storm this summer,” he also said. “Then I think you’re going to start to see companies see an advantage.”
“We have seen some projections that other companies may decide to take similar actions and withdraw from the state,” Friedlander said. “But we have no definitive information about that. I know it’s been speculated by some experts as well as some former legislators here in Florida.”
(Excerpt) Read more at news4jax.com ...
Can you imagine it now?
'president desanctus! China as treatened to take over Hawaii! What should we do? dee santis - Well, knock on wood they get lost and don't find the islands'
lol....
Not a huge fan That said, there’s more tgat can be done about foreign invaders than can be done to prevent hurricanes
🌀
What is government’s role in insurance? What should it be?
Ding! Ding! Ding! That is the main question. The answer is, government should have no role in insurance.
People were flocking to South Florida before, then came the Hurricane of 1926.
History may not repeat, but it sure does rhyme.
Is it somehow bad that he’s hoping they don’t get hit by a big storm? I don’t understand if this is supposed to be some sort of slam on him or something. If it is, it’s pretty lame.
Roger that. Why should taxpayers subsidize beach front property?
>>What is government’s role in insurance? What should it be?
Correct...what *exactly* do conservatives want the government to do for them and their home insurance problems? Expecting a govt bailout?
Seems to me the only legit solution is to let prices rise high enough that companies want to actually write the policies, i.e. they can make a profit over time...if one wants to live someplace in a hurricane prone area, 2-3 feet above sea level is a choice one makes. Choices have consequences.
Ding Ding Ding.
Insurance is regulated by States to protect consumers as are utilities.
States determine the kind of insurance that can be sold in their State and need to sign of on requested increases.
Your comment flies in the face of reality.
You were in the other thread, so you would know if you read some the replies...
bup the point is,
What should da santis’ role be as governor of Florida be?
“Oh ignore it and leave it alone, it’ll take care of itself”?
Insurance is regulated by the states. This system of regulation stems from the McCarran-Ferguson Act of 1945, which describes state regulation and taxation of the industry as being in “the public interest” and clearly gives it preeminence over federal law. Each state has its own set of statutes and rules.
He signed legislation on Insurance...I think in December. You really think he can control the insurance industry? No one else can.
Related:
DeSantis accused of favoring insurance-industry donors at residents’ expense
https://freerepublic.com/focus/f-news/4150978/posts
What is govs role? How about not this.
You trump cultists are so dishonest. You are the MSNBC of this site now. Congrats.
Maybe he should suggest freedom cities and flying cars? Should he sign an executive order forcing insurance companies and take huge losses? But I forget anyone that threatens Der Trumpster is fit for only insults and derision.
Yes he did and the legislation was an epic fail. In May he signed legislation aimed at diminishing suits agains insurance companies.
The governor’s committee and the Friends of Ron DeSantis PAC raked in $3.9 million from the insurance industry since its formation in 2018, according to a report released Wednesday by Hedge Clippers, a campaign organized by the Center for Popular Democracy, “including more than $150,000 in one day from dozens of State ...May 3, 2023
https://www.politico.com/news/2023/04/05/florida-lawmakers-trump-desantis-insurance-00090643
“ What is government’s role in insurance? What should it be?”
******************************************************
Well, government SHOULD have VERY strict and VERY relevant building codes.
You show you don’t understand hurricanes.
The diameter of tropical force and higher winds of major hurricanes can cover more than half the state, and they frequently go from coast to coast.
It’s not just “beach front property” that is affected.
The final reality for insurance is . . . if you think they are gouging, buy stock in their company and participate.
You’ll find insurance companies generally do not crush the S&P. Berkshire Hathaway does not count.
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