Senate grilling continues
The showdown Monday between state lawmakers and some of the biggest property insurers did little to clarify why rate cutting laws haven't worked and sparked several testy exchanges.
Do you make a profit on auto insurance, a state senator asked Allstate Floridian chief executive Joseph Richardson. "To my knowledge, I cannot comment," Richardson answered. "I don't want to comment on whether we are or whether we aren't, senator."
What's your annual salary, another senator inquired later.
"That's confidential information," Richardson said.
Sen. Bill Posey, R-Rockledge, wanted more concrete answers.
"I haven't seen so much bobbing and weaving since Muhammad Ali did rope-a-dope," said Posey, who runs a Senate committee in charge of creating insurance policy. "We could be doing this forever."
The hearings continue today. Read the report here.
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Much ado about nothing!!
Posted by: | February 05, 2008 at 10:27 AM
Is this the Florida Senate's idea of a spoof on The Godfather Part II?
Posted by: | February 05, 2008 at 10:44 AM
"Were you or were you not a member of the Corleone Crime Family?"
"Is Vito Corleone known as the Godfather?"
Posted by: | February 05, 2008 at 11:06 AM
Watching this is (a) amusing; (b) the Senate are looking like a kindergarden class not getting they way; (c) boring;
or (d) all of the above.
Posted by: | February 05, 2008 at 11:07 AM
"... did little to clarify why rate cutting laws haven't worked..."
Well then, let me see if I can help. How about 12-million in campaign contribution in 2006!, does that clear it up for you?
Posted by: | February 05, 2008 at 11:10 AM
(e) helping Floridians to see for themselves the thieves and crooks that make up the executives in the insurance industry.
Posted by: | February 05, 2008 at 11:12 AM
THEY LIE!!
they are insurance executives.
THEY LIE!!
Posted by: | February 05, 2008 at 11:37 AM
I'm glad to see the insurance industry's paid bloggers on the job today.
Who really believes the CEO doesn't know how much money he made on auto insurance last year? And why allow them to get away without disclosing their compensation?
If they weren't under oath, what would they be telling us?
Posted by: Gene Smith | February 05, 2008 at 11:42 AM
THEY LIE!!
they are politicians funded by the insurance industry.
THEY LIE!!
Posted by: | February 05, 2008 at 11:43 AM
the low life of this earth are those insurance creeps who are not telling the truth and hiding under the 5th
Posted by: | February 05, 2008 at 11:54 AM
the low lifes of this earth are those insurance creeps, and the politicians they help put in office to do thier bidding.
Posted by: | February 05, 2008 at 11:57 AM
Let's see--they were ordered by the courts to disclose profits, and redirection of same. So, now they just take the 5th, and it makes them look even dirtier.
Posted by: | February 05, 2008 at 12:18 PM
Go get em Senators!! These insurance execs AND their scum lobbyist need to go to prison.
Posted by: | February 05, 2008 at 02:05 PM
Go get em VOTERS!! These insurance execs, their scum lobbyist, and the lying politicians they put in office need to go to prison.
Posted by: | February 05, 2008 at 03:36 PM
Gene,
HOw is it government's business to what the salaries are?
Are you a communist?
Posted by: | February 05, 2008 at 04:05 PM
I think communists are hot!
Posted by: | February 05, 2008 at 04:38 PM
Awww, was poor wittle Mr. Allstate mad that American Strategic was getting praised by the Senate and his Allstate wasnt? Poow Mista All State! But its a legacy, you say!
To all my blogging friends, do you care if Allstate is a legacy?
Posted by: | February 05, 2008 at 06:01 PM
"I haven't seen so much bobbing and weaving since Muhammad Ali did rope-a-dope," said Posey, who runs a Senate committee in charge of creating insurance policy. "We could be doing this forever."
~~~~~~~~~~~~~~~~~~~~~~~
The insurance industry -- one of the dirtiest around.
Posted by: | February 05, 2008 at 08:59 PM
What a sham. The legislature is responsible for this mess. Check the campaign contribution and too bad you cannot see the money the Insurance co's gave to the 527's and such. The legislators are the ones to blame.
Posted by: | February 05, 2008 at 10:22 PM
Alert! This just in. Word is that Fasano will be big approps Chair under the Mikey H presidency.
Boy is Bennett, Crist and a few other senators, in a hole if that happens.
Posted by: | February 05, 2008 at 10:28 PM
How does the senate have any credibility ??They are funding their campaigns with insurance comoney have handed it all the tort reform it wanted record profits for all the insurance cos..Base hipocracy.We donr believe any of this balony.We would believe strong punitive legislation ..you will never see that in the GOP legislature.
Posted by: Jason Straight | February 06, 2008 at 03:19 AM
Jason, you will never see it in a Democrat legislature either. They all take insurance money! Everyone of them are bought and paid for.
Posted by: Ronnie | February 06, 2008 at 09:43 AM
Jason, you will never see it in a Democrat legislature either. They all take insurance money! Everyone of them are bought and paid for.
Posted by: Ronnie | February 06, 2008 at 09:43 AM
========
But the Republican Legislature is better insured to do the bidding of the insurance lobby.
Posted by: | February 06, 2008 at 08:21 PM