A man stands in front of his destroyed house in the aftermath of Hurricane Ian in Matlacha, Florida on October 3, 2022.RICARDO ARDUENGO/Ricardo Arduengo/AFP/Getty Images
Homeowners in Florida pay the highest premiums in the country: nearly three times the national average,, an industry group. And Floridians' premiums are rising much faster – about 33% each year – than the typical American's annual increase of 9%. Six insurance carriers have declared insolvency this year alone. Others have dropped customers or stopped writing new policies. As a result, the number of policyholders on the state-backed insurer of last resort, Citizens Property Insurance, has ballooned.Now, as Floridians look to recover from an estimated
But hey, no income tax. So once again Florida’s poor and middle class will pay more to carry the wealthy on their shoulders.
So you are saying insurers would rather pay exorbitant legal fees to keep from filing claims
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Citizens Property Insurance? Isn't that ...socialism?
Insurance is voluntary socialism.
saw an infographic on PBS news earlier this week that said 18% of homes in FL have flood insurance...? that is insanity
Nasty Rs deserve what they are getting. Chased divisive issues over real policy imperatives.
It will be a place for the wealthy and those who don’t have to carry policies. So be it. Go find something else to rant about.
Well? Florida is after all,a sub tropical swampland. Bussing in dirt for a couple more years could in theory,raise the land levels. Sometimes nature is a harsh mistress.
For those that don’t live in Florida it’s one main reason why we have this problem. They let scammers fleece insurance companies. Instead of fixing it, they chose to go after cultural issues. So now we have a big insurance problem in the state.
Reason No.1 DeSantisDestroysFlorida
The FL insurance industry will be influenced by how much the government becomes the insurer of last resort and backstops the insurance companies and their reinsurers. So as a society is it better for society to provide aid to directly victims or reinsure the reinsurers?