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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy is DeathSentence pushing this anti-vax madness - here's why
Diversion- talk about anything but the insurance crisis.
https://www.fox35orlando.com/news/floridas-property-insurance-crisis-state-senate-passes-bill-to-overhaul-property-insurance-system
Florida's property insurance crisis: State Senate passes bill to overhaul property insurance system
The Florida Senate on Tuesday approved sweeping legislation that would overhaul the states property insurance system, which has struggled due to insolvencies, high costs and major storms.
The bill would create a $1 billion reinsurance fund, reduce litigation costs and compel some customers to leave a state-created insurer. It also would force insurers to respond more promptly to claims and increase state oversight of insurers conduct following hurricanes.
The Republican proposal was put forth during the GOP-led Legislatures second special session this year aimed at stabilizing the states property insurance market. The state House is expected to give the measure final passage this week.
jimfields33
(15,991 posts)I dont get it.
Beachnutt
(7,344 posts)malaise
(269,193 posts)He Doesnt want to talk about the insurance crisis
jimfields33
(15,991 posts)Every Floridian is well aware of the insurance mess. Its discussed often.
malaise
(269,193 posts)mitch96
(13,926 posts)of last resort. Citizens. Everybody else left South Florida. The prices were a touch less than State farm. I never had a claim with them and increases were minimal. Every year I would get a notice that XYZ private insurance company would like to insure me. Their prices were between $500 to $750 MORE than Citizens.. Ahh no thanks...
Now if the state gets rid of Citizens the prices will go thru the roof with less coverage..
Easy pickings...
m
malaise
(269,193 posts)A complete mess
PCIntern
(25,595 posts)Tetrachloride
(7,876 posts)never ending
malaise
(269,193 posts)I edited for clarity
Beachnutt
(7,344 posts)Ken Griffin ceo of Citadel securities who recently moved headquarters from Chicago to Florida.
Take a read here :
https://apnews.com/article/joe-biden-business-health-coronavirus-pandemic-4d0d18b24e0dd41de2424e19b3ed994f
https://www.reuters.com/business/hedge-fund-citadel-move-headquarters-miami-chicago-2022-06-23/
GreenWave
(6,766 posts)This is premeditated attempted mass murder on his part.
TheBlackAdder
(28,224 posts)Joe Cool
(750 posts)Florida is currently #9 out of 51 (states plus DC) in infection rate and #12 in death rate. He failed Florida when it came to COVID.
So now hell try and blame CDC
hatrack
(59,593 posts)EDIT
A bill passed by the Senate Tuesday will slowly raise the rates of more than 1.1 million policy holders of Citizens Property Insurance Corp., the state-run property insurance carrier of last resort. But a provision in HB 1A requires that most Citizens policy holders must purchase and maintain flood insurance coverage over the coming years that is at least equivalent to the coverage provided by the National Flood Insurance Program (NFIP).
Only 18% of all Florida homeowners carry a flood insurance program, either through the NFIP or a private flood insurer, according to the Insurance Information Institute. The legislation says that Citizens may deny coverage to a policyholder or applicant who refuses to purchase and maintain such coverage. The measure does allow existing Citizen customers whose policy doesnt provide wind coverage to not be required to purchase flood coverage. But thats fewer than 30,000 customers, according to Citizens spokesman Michael Peltier.
The speed of which a Citizens customer must get that new flood insurance package depends on the value of their home. For customers whose property is valued higher than $600,000, they must get flood insurance by Jan. 1, 2024. For those whose home values are above $500,000 can wait until 2025; those over $400,000 have until 2026, and every other Citizens customer must get flood insurance by January 1, 2027.
The bill would force Citizens policyholders to switch to a private insurance carrier if that carriers premiums are no more than 20% higher than Citizens when renewing.
EDIT
https://floridaphoenix.com/2022/12/14/on-top-of-rising-homeowner-premiums-policyholders-face-a-new-tab-coming-soon-flood-insurance/
malaise
(269,193 posts)Ding ding we have a winner
Celerity
(43,565 posts)yikes
mitch96
(13,926 posts)and, at the time the limit was 6' so I had no requirement for Flood Insurance.
BTW I was 6 miles from the ocean but the water intrusion was from the north not the ocean!
Where I'm at now in Florida I'm 62' above sea level.. Yes I get nose bleeds..
m
Raven123
(4,876 posts)FloridaBlues
(4,008 posts)This will do very little to get money due to our damages or lowers premiums
malaise
(269,193 posts)so focus on something else
Response to FloridaBlues (Reply #16)
malaise This message was self-deleted by its author.
haele
(12,682 posts)He knows most of his Florida base and any other media-fed over-churched sheep in his state will more readily pay attention tor the Q and Anti-Vax nonsense or the slow fuse of the insurance rate crisis.
Discomfort avoiders will more than often focus on the risks that don't actually exist as a measure of 'control' than risk becoming uncomfortable dealing with actual risks they can't avoid, especially when there's little they can do to mitigate those risks other than hard work or hard decisions.
They can't as afford to deal with the insurance rate issue. So they wrap themselves up in easy to deal with Q-nonsense like Linus with his Security Blanket.
Haele
mcar
(42,382 posts)despite us having a new roof put on this year. At least we can get insurance.
Florida's Republican legislature will pass a big giveaway to insurance companies - something that will cost us taxpayers millions but will not reduce our premiums by a dime.
This is what the idiots in my state voted for.