[bimmertl]

Don't worry. Our wonderful governor and his minions have made plans that all the residents of Florida will be able to share in the massive losses that will occur with any large hurricane. While some fault State Farm for their recent announcement to leave Florida, the real problem is Charlie Crist. Check out this article from the Wall Street Journal which hits the nail on the head.

http://online.wsj.com/article/SB123371173559046209.html

[GMONEY]

I will be checking around on companies, will post what I find out. They can complain about not being able to raise rates on HO insurance, but what about all the other insurance SF covers. Cant tell me they are not making money on the people. Sounds like a CEO needs more vacation homes or something. Anytime someone stands up and says you are not screwing the people anymore, someone finds something to contrary. I know many people that have SF and pay as much if not more for auto ins. as alot of people pay for HO ins...

[Laker14]

Originally Posted by GMONEY

I will be checking around on companies, will post what I find out. They can complain about not being able to raise rates on HO insurance, but what about all the other insurance SF covers. Cant tell me they are not making money on the people. Sounds like a CEO needs more vacation homes or something. Anytime someone stands up and says you are not screwing the people anymore, someone finds something to contrary. I know many people that have SF and pay as much if not more for auto ins. as alot of people pay for HO ins...

I don't see your logic. Why would an insurance company leave if they were making money? If I ran a business, and the state said I had to charge less than I pay out, I'd leave too. If I were "gouging", and left, then others would come in to take my place at a fair market profit. That ain't happening.

That tells me something. And the something it tells me is that the governor messed this all up. I see a financial disaster just waiting to happen, and again, all foreseeable, and again, it will wind up on the national doorstep. Instead of the governor letting Floridians pay their share of the risk, he's going to hope the feds will bail them out. Oh well,what's another trillion or so?

[mokey]

Moved here 18 months ago, and had been with State Farm for homeowners, autos (4), and life for 45 years. Put a contract on a home and contacted SF for insurance and they would not take me. Note there were O claims in 45 years. They did quote me auto because they said I would retain all my discounts. Ended up with Travelers who were cheaper then SF quote. Really have a bad case of it for SF. Probably should have gotten other quotes years ago, but was from old school of loyalty. Have found it does not pay off with any business today. They are not counting the money they made all the years prior to 05. Did talk to Allstate and they were willing to insure, but went with recommendations from other people. Sure they would have been ok also. Ops, no spell check!

[bimmertl]

Here's another example of Crist's leadership regarding the Florida insurance crisis. This one cost the taxpayers $224 million and made Warren Buffet that much more wealthy. Buffett pocketed the money since the loans were never needed.

One can only wonder what our genius governor has up his sleeve to get us through the 09 storm season?

http://blogs.orlandosentinel.com/new...pushes-th.html

[Laker14]

Originally Posted by mokey

Moved here 18 months ago, and had been with State Farm for homeowners, autos (4), and life for 45 years. Put a contract on a home and contacted SF for insurance and they would not take me. Note there were O claims in 45 years. They did quote me auto because they said I would retain all my discounts. Ended up with Travelers who were cheaper then SF quote. Really have a bad case of it for SF. Probably should have gotten other quotes years ago, but was from old school of loyalty. Have found it does not pay off with any business today. They are not counting the money they made all the years prior to 05. Did talk to Allstate and they were willing to insure, but went with recommendations from other people. Sure they would have been ok also. Ops, no spell check!

If I understand you correctly, you are saying that Travelers did insure a new home for you in Florida, 18 months ago?

[Carla B]

I don't know if Allstate still writes HO insurance in Florida. Their HO subsidiary, Allstate Floridian, dropped 95,000 policy holders in FL, including us in 2005. At that time our agent claimed they dropped him, too. Yes, Allstate Floridian lost money in the 2004 hurricanes but I believe the parent co. made money that year.

Property insurance was in crisis before Charlie Crist was elected and was a big issue in that campaign.

[Laker14]

Thinking about this as an outsider, I'd think the state government should be more worried about:

1. Are the private companies charging ENOUGH, and

2. Is the kitty BIG ENOUGH

to Pay for the damages when "THe Big One" hits, or a steady succession of

"pretty big ones" hit?

The fact that the parent companies are making money overall, on things like auto, life, and home-owners insurance in other areas, does not mean to me they should be obligated to take the huge risk they can't pay for in the Hurricane Zones.

In all fairness, and believe me, I am no lover of insurance companies, can you imagine the outcry when/if the BIG ONE hit and the companies couldn't pay off after taking your premiums?

You guys can look at this in one of two ways:

The insurance companies are lying to me. They just want to gouge me for more money. The politician is my friend. He's being honest.

or

Insurance Companies wouldn't walk away from a fair profit. The politicians are making promises they can't keep.

Now there's a nice choice. Trust insurance companies? or politicians?

Yikes, that's the stuff nightmares are made of, which is, of course, what this is.