[looneycat]

Originally Posted by Bucco

Well, I do not know the insurance industry as well as you obviously do. I cannot only speak to the hearings on the new law and various news media sources.

A few years back, in Tampa, a number of articles on fraud associated with sinkholes.

If you know what you speak of, I will surely bow to your expertise but if you are correct, there should be an investigation. Even those opposed to the new law did not deny the fraud.

no, but they consistently pull up the amount paid for ALL claims when they are talking about fraudulent ones...that's nonsense, if you multiply the cost of the sinkhole rider times the number issued minus the claims paid out, the insurance industry made a huge profit. this was just a way to get more leverage to refuse claims.

[ilovetv]

Originally Posted by looneycat

no, but they consistently pull up the amount paid for ALL claims when they are talking about fraudulent ones...that's nonsense, if you multiply the cost of the sinkhole rider times the number issued minus the claims paid out, the insurance industry made a huge profit. this was just a way to get more leverage to refuse claims.

Does anyone really think writing sinkhole insurance in FL is "profitable"??

[perrjojo]

I have been reading all of the recent sink hole threads on TOTV. We recently went over our policy with our current insurer as well as a prospective new company. From my recent talks with two insurance companies I find that these threads have a lot of opinion but mostly misinformation. If you have concerns about sink holes and your policy, call your agent. If you don't like what your policy offers, call another agent. The insurance situation here is not nearly as complicated as some seem to think.

[GatorFan]

Originally Posted by perrjojo

I have been reading all of the recent sink hole threads on TOTV. We recently went over our policy with our current insurer as well as a prospective new company. From my recent talks with two insurance companies I find that these threads have a lot of opinion but mostly misinformation. If you have concerns about sink holes and your policy, call your agent. If you don't like what your policy offers, call another agent. The insurance situation here is not nearly as complicated as some seem to think.

Thank you..you are 100% correct.

[quirky3]

Noticed that the OP has not participated after their original post