Insurance increase

[Bob Wells]

Just heard the very popular Govenor of Florida comment that less is better in these tough economic time as relating to Citizens Insurance and insurance in general. Based on what is happening there is talk of an increase to fund Citizens and those with policies from Insurance companies may get to assist. So much for insurance dropping like a rock.

 

[Lynnie]

Y'all, I sooooo want to be on the State of Florida Property & Casualty Insurance Task Force....I just created this, BTW! What goes on in FL regarding insurance and the carriers is egregious and it can be stopped by the CFO and the Gov, but they choose not to? Are they afraid?

 

[Bob Wells]

Y'all, I sooooo want to be on the State of Florida Property & Casualty Insurance Task Force....I just created this, BTW! What goes on in FL regarding insurance and the carriers is egregious and it can be stopped by the CFO and the Gov, but they choose not to? Are they afraid?

I am not sure anyone really can change it. Example, Workers Comp insurance providers have seen an increase of 30% in profits by limiting how much I can spend to retain a lawyer with no limits on how much they can spend to keep me from collecting for injury on the job. As for CFO Sink, I can not speak as to whether she can change the Citizens Property Insurance issue, but I am not sure she made a promise to drop rates like a rock, unlike our wildly popular Gov. Crist. The Legislators who could be doing something have yet done anything except allow the padding of the Insurance Industry pockets.

 

[Lynnie]

I would have them whipped into shape in no time!

Talk about a revolution! Had I known about the insurance and property taxes, I probably would not have bought in FL - pay the bed tax instead . The love penalizing those who live and work in the State! And, the CFO and Gov. most certainly can stop it. It's called ceasing allowing insurance carriers to cherry pick. Batturds!

 

[Andy A]

Up until last year I had windstorm damage insurance with the best company in America, USAA.
They went to Governor Charlie Christ and asked for a nominal rate increase for their Florida residents. According to what I was told, he not only would not consider their request, he or his representative refused to meet with them. Consequently, USAA canceled all its members Hurricane Coverage in Florida. So much for our great governor looking out for constituents as far as insurance is concerned. BTW, a call to his office for an explanation produced no result, either. Now, Citizens is canceling all existing policies and re-issuing them after "evaluation". There will be no increase in premium. Yeah, right! The way insurance is handled in this state is a travesty! Someone needs to step forward and look out for the insured.

 

[Lynnie]

USAA is one of the most solvent carriers in the country. What Crist needs to do is penalize them for pulling out of the State of FL and tell them they cannot write any lines (period) in the state for ten years.

The insurance issue in FL needs someone to be tough. No Cherry Picking - but then again, the powers that be not only allow this business practice, but condone and enable it.

 

[Andy A]

USAA is one of the most solvent carriers in the country. What Crist needs to do is penalize them for pulling out of the State of FL and tell them they cannot write any lines (period) in the state for ten years.

The insurance issue in FL needs someone to be tough. No Cherry Picking - but then again, the powers that be not only allow this business practice, but condone and enable it.

I'm sorry, but USAA should have been given the courtesy of explaining their position to Governor Christ. NO INSURANCE COMPANY should be allowed to sell ANY kind of insurance if they refuse to offer Hurricane Coverage to their clients. At least USAA asked for a hearing before cancellation, Lynnie. Many others did not, they just dropped certain coverages. You are right about the "cherry picking" but its not just one company, its all of them.

 

[Bob]

USAA is one of the most solvent carriers in the country. What Crist needs to do is penalize them for pulling out of the State of FL and tell them they cannot write any lines (period) in the state for ten years.

The insurance issue in FL needs someone to be tough. No Cherry Picking - but then again, the powers that be not only allow this business practice, but condone and enable it.

i have full coverage by usaa in orange county, usaa has dropped second home coverage and apparently wind policies in coastal areas. usaa did not increase rates as the other carriers did, and by the time they needed a substantial increase, it was too late.

 

[Lynnie]

I hold strong to my beliefs on the cherry picking across ALL carriers and I am not picking on USAA or you.

The carriers have gotten away with a lot in FL and the State needs let them know that the game is over.

Other than that, I would need to see all of the information before agreeing or disagreeing on this issue with USAA. You're right, they are considered the best of the best......no storms for the last two years and they need to increase wind coverage premium? Could they be trying to make up for losses in the western states' floods? Or, something else?

Crist was probably doing the right thing on this one as if they increase their premium, then a precendent has been set for other carriers.

 

[Lynnie]

i have full coverage by usaa in orange county, usaa has dropped second home coverage and apparently wind policies in coastal areas. usaa did not increase rates as the other carriers did, and by the time they needed a substantial increase, it was too late.

My premiums have dropped dramatically over the last two years for hazard and wind.

Was it a substantial increase or a nominal increase like Andy suggested?