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South Carolina Department of Insurance director loses property coverage
Rock Hill Herald ^
| 09/04/07
Posted on 09/05/2007 12:31:12 PM PDT by Between the Lines
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To: Between the Lines
The wind pool provides last-resort coverage in areas where other insurers have stopped writing policies. Florida's program created three years ago attracted 1.3 million customers and became the state's largest property insurance provider. Poorer taxpayers subsidizing richer taxpayers so they can have a better view...
2
posted on
09/05/2007 12:33:49 PM PDT
by
2banana
(My common ground with terrorists - they want to die for islam and we want to kill them)
To: Between the Lines
Don’t tell me this guy doesn’t have some pull.
3
posted on
09/05/2007 12:33:50 PM PDT
by
freekitty
(May the eagles long fly over our beautiful and free American sky.)
To: Between the Lines
State Farm is by far the worst offender here on the Gulf Coast. They have more than quadrupled in the last 5 or 6 years.
I fuss about USAA but they are actually one of the better ones.
4
posted on
09/05/2007 12:34:34 PM PDT
by
stm
(Fred Thompson in 08!)
To: Between the Lines
And that storm, Invest 99, (possible Trop Depression/Trop Storm by then) is supposed to hit SC/NC this weekend.
5
posted on
09/05/2007 12:35:15 PM PDT
by
Sax
To: Between the Lines
If no major hurricanes hit the US this year the insurence companies are going to look bad, real bad.
6
posted on
09/05/2007 12:38:49 PM PDT
by
darkwing104
(Let's get dangerous)
To: Sax
7
posted on
09/05/2007 12:39:50 PM PDT
by
Sax
To: Between the Lines
I personally believe that, US Americans are unable to get property insurance, because some
people out there in our world dont have insurance, and I believe that coastal areas, like such as in South Africa and the Iraq, everywhere like such as, and I believe that they should ... come over here to the US to get property insurance for South Africa and should help the Iraq and the Asian Countries so we will be able to build up our property insurance
8
posted on
09/05/2007 12:47:29 PM PDT
by
ClearCase_guy
(The broken wall, the burning roof and tower. And Agamemnon dead.)
To: Between the Lines
While I’ll agree that the insurers have suffered vast costs due to catastrophic weather phenomenons, where were their profits going when NOTHING happened?
Was it ALL real estate investments? I have as much problem understanding this as a liberal has with oil profits.
9
posted on
09/05/2007 12:48:03 PM PDT
by
poobear
(Pure democracy is two wolves and a lamb voting on what's for dinner. God save the Republic!)
To: Between the Lines
I have to play devil’s advocate here. Why should insurance companies be compelled to offer coverage in high risk areas?
10
posted on
09/05/2007 12:53:21 PM PDT
by
pnh102
To: darkwing104
But you can bet our rates won’t go down, just because they have had no major payouts for a couple years. I haven’t made a claim in 20 years, don’t live in an evac zone, entire house was upgraded to Miami/Dade code 3 years ago, we haven’t had a major hurricane hit our area in years, yet State Farm still raised my rates 75 percent this year (and even if a hurricane hit, my hurricane deductible is so large it would almost cover the cost of putting on a new roof.)
11
posted on
09/05/2007 12:54:32 PM PDT
by
dawn53
To: dawn53
But you can bet our rates wont go downYou can say that again. My house was built in 2006 and outside of a flood zone and yet I am paying the same rate as the clowns closer to the Gulf.
12
posted on
09/05/2007 12:59:39 PM PDT
by
darkwing104
(Let's get dangerous)
To: poobear
where were their profits going when NOTHING happened? It's called 'cash reserves against loss'.
L
13
posted on
09/05/2007 1:03:41 PM PDT
by
Lurker
( Comparing moderate islam to extremist islam is like comparing smallpox and ebola.)
To: 2banana
Not only do we have a view we have FEMA
14
posted on
09/05/2007 1:06:39 PM PDT
by
italianquaker
(Obamas "spiritual advisor" , ." On the Sunday after the attacks, Dr. Wright blamed America.)
To: Lurker
I understand all that....
15
posted on
09/05/2007 1:16:29 PM PDT
by
poobear
(Pure democracy is two wolves and a lamb voting on what's for dinner. God save the Republic!)
To: Lurker
16
posted on
09/05/2007 1:33:57 PM PDT
by
dawn53
To: ClearCase_guy
LOL...poor kids. You know, she could have had a case of stage fright, but now she’ll be the Room Temp IQ Blonde 4Ever.
17
posted on
09/05/2007 1:40:19 PM PDT
by
Mamzelle
To: pnh102
I think back to when I watched co-workers use a hail storm for an opportunity to make their insurance put on a new roof. They felt entitled, but it was a rip-off.
Don't take your coverage for granted.
18
posted on
09/05/2007 1:41:51 PM PDT
by
Mamzelle
To: dawn53
State Farm CEO gets 82% raise due to record profits Good for him and good for the State Farm stockholders.
L
19
posted on
09/05/2007 1:50:24 PM PDT
by
Lurker
( Comparing moderate islam to extremist islam is like comparing smallpox and ebola.)
To: poobear
Do you think their 1 year premiums cover all catastrophes incurred in any given year ? A bunch of it goes to fund reserves for those years they have massive payouts, called “loss reserves”, and they are required by law.
20
posted on
09/05/2007 2:08:12 PM PDT
by
cinives
(On some planets what I do is considered normal.)
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