Quote:
Originally Posted by Indydealmaker
This is a business opportunity and I am sure that it will be recognized by some insurer. It does not make sense to drop all coverage when money can be made by charging special rider premiums and adopting separate higher deductibles.
If this makes too much sense, it is probably due to some state regulation that has boatloads of unintended consequences.
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You are exactly correct. This began with the passage of Senate Bill 408 in 2011. This was intended to address fraud and abuses which were very common in Pasco County.
I got this information recently from Marlene O'Toole, and told her that I was particularly disappointed that legislation like this is passed without any prior knowledge or input by her constituents. This can have a big financial impact on folks and should not be a surprise.
It seems this kind of thing happens all the time, like the clause in recent legislation (supported I believe by Marlene) that allows CDDs to combine. What do you suppose was the impetus for that?