Officials: Charley Won't Push Up Premiums

[Nambe]

MIAMI (AP)

Hurricane Charley probably will not cause Floridians' insurance premiums to skyrocket like 1992's Andrew, and fewer insurers should go bankrupt from paying out damages expected to reach the billions of dollars, state and industry officials said Saturday. ..

As Fran and Roy Zimmerman cleaned up the mess at their Punta Gorda home, they expected their annual homeowners insurance bill to surpass its current cost of $2,000.

"They have to pay out so much more, they'll want to get it back," Fran Zimmerman said. "There's no doubt about that."

Miller said premiums that increased an average of 100 percent statewide and 200 percent in South Florida after Andrew mean the insurers are better prepared financially.

"That was painful but all that (money) is in the system now," Miller said. "We were woefully unprepared for Andrew." ..

Ride Don’t Drive * * It’s Global Cool

[rocktivity]

1. Not until after the election, at least

a favor they'd be happy to do for the Bush regime in return for remaining unregulated.

:headbang:
rocknation

[Deja Q]

2. Just as they hadn't after 9/11? ...

Sheesh. An insurance company is a business. They take the risk by collecting the peoples' money in return for safeguarding their property.

To hike up the rates after one disaster, knowing that they already charge more for a 'high risk' area is outright robbery, pure and simple. They need to take their risks like the rest of us, and not up the premiums so they can stuff the CEO's new mattress full of money as he is allergic to goose down.

[Media_Lies_Daily]

3. Bullcrap! The premiums will go sky high.

[silverlib]

4. The insurance companies

will probably just quit writing new policies like many did in Texas after the "mold" instances.

Premiums will not go up.

[LauraK]

5. Global warming is at issue here.

GW results in radical weather patterns and hurricane frequency. Not only will Florida be effected by rising seas, all semisub-tropical regions will experience more frequent and stronger hurricanes. We probably won't be here to see what we're doing to future generations.

[snippy]

6. Premiums will go up because the cost of doing business

as an insurance company in Florida will have gone up as a result of paying the claims. In addition, the homes and buildings which replace the destroyed ones probably will be more expensive, requiring more insurance. And finally, the companies' reserves will have to be built up again.

[Mr.Green93]

7. and I promise to call you ...............

[Lefty48197]

8. Something tells me Bush-Bush will funnel money to the insurance companies

.

[slojim240]

9. Won't push up the premiums in FL, but it will in the blue states.

That's how the insurance companies will get their kick-backs and help get votes for Bush.