Bill for 2004-2005 storms gets pricier

Floridians' bill for the 2004 and 2005 hurricanes is about to grow another $600-million.

The state catastrophe fund, which sells cheap reinsurance to insurers, needs to collect roughly 45 percent more than the $1.35-billion originally estimated to pay claims. Florida's State Board of Administration is expected to consider later this month a new bond sale, which means Floridians will be stuck with paying more in assessments for the old storms. Read it here.

Also, read more about how Insurance Commissioner Kevin McCarty can now ban Allstate from writing new auto business here.

Comments

[terminator]

rack up another victory for Chuck and his senate buddies and their "insurance" policies!

1. Require insurance coverage for outstanding mortgage amount only.

2. Require insurance companies to re-pay all premiums (plus interest) to any customer it chooses to drop or non-renew, provided said customer had no claims.

3. Vote every incumbent out of office, given your first available opportunity.

Problem Solved!

[Omega83]

This is complete B.S. - They freeze rates for Citizens policy holders, but TAX THE REST OF US to make up the difference!

Not only is that horribly unfair, it incentivizes private policyholders to switch to Citizens and expose the state to even more risk

Appalling...

Governor Crist is a bona fide idiot. Seriously.

I truly think the man lacks intellectual thought or rational policy-making skills. I am ashamed to say I ever supported and voted for that clown.

As for McCart(h)y's insurer witch hunt, Gee, thanks again for limiting our choices on auto insurance as well. Wonder what that will do to our premiums.

Go to hell, the lot of you. You are miserable excuses for "leaders".

[6 Actual]

Hey, Chawwee, write this on your blackboard 100 times:
"I will leave office in November & take my clowns with me."

"Republican Gov. Charlie Crist, one of the major proponents of increasing the state's reliance on government-backed insurance entities, could not be reached for comment Wednesday."

This statement sums up Crist's tenure so far...Fight to get to the cameras and media when it is politically expedient, then run and hide when someone criticizes your policies.

I hope "the people" realize they made a huge mistake.

Then again, look at the choices. Someone needs to step up to the plate.

I am so glad that I can help out the multi-millionaires that have their vacation homes on barrier islands and on ocean and gulf front property, especially while the property insurance on my inland 1400 square foot house has doubled in the past three years.

Signed,

A former member of the middle class - now a member of the working poor and sinking fast.

I'll remember in November.

[Observer]

The state's largest insurer, State Farm, is currently discontinuing homeowners policies to thousands of Florida residents. They are left with a choice of fly by night insurance companies or Citizens. State Farm says it cannot absorb the risk at current rates. I question the wisdom of chasing responsible insurance companies out of the State and forcing us to buy insurance gauranteed by the State. That's us folks. If we get hit, you would not believe the tax increase you are going to get.

1. Require insurance coverage for outstanding mortgage amount only.

2. Require insurance companies to re-pay all premiums (plus interest) to any customer it chooses to drop or non-renew, provided said customer had no claims.

3. Vote every incumbent out of office, given your first available opportunity.

Problem Solved!

Lets all give a big cheer for Democrat Senator Bill Nelson and his Pup Company plan!!! Great job, it worked like a charm and we get to pay so much more now!!!