"And guess what this liberal would be all about? This liberal wh0re would be all about socialize -- er, uh, uh, uh, uh, would be about basically tabaking obover and the gobovernment rubunning all of your cobompanies."
Posted on 05/31/2008 4:35:23 AM PDT by Brilliant
As hurricane season begins, Democrats in Congress want to nationalize a chunk of the insurance business that covers major storm-damage claims.
The proposal -- backed by giant insurers Allstate Corp. and State Farm Mutual Automobile Insurance Co., as well as Florida lawmakers -- focuses on "reinsurance," the policies bought by insurers themselves to protect against catastrophic losses. The proposal envisions a taxpayer-financed reinsurance program covering all 50 states, which would essentially backstop the giant insurers in case of disaster.
The program could save homeowners roughly $500 apiece in annual premiums in Florida...
But environmentalists and other critics ...say lower premiums would more likely spur irresponsible coastal development, already a big factor in insurance costs. The program could also shift costs to taxpayers in states with fewer natural-disaster risks.
"This bill makes it a little bit too easy for the state to go to the federal government for a bailout," said Eric Goldberg, associate general counsel at the American Insurance Association...
The two Democratic contenders, Sen. Hillary Clinton of New York and Sen. Barack Obama of Illinois, in their recent visits to Florida -- a key swing state -- have both voiced support for the plan...
"I'm calling on the voters in both parties to demand that the nominee of their party publicly support a national disaster fund," said Florida state Sen. Steven Geller, an uncommitted Democratic superdelegate. "If they won't, vote for the other party."
Republican presidential candidate Sen. John McCain, who badly wants to win Florida, is resisting calls to back the program...
The proposal envisions the creation of funds like Florida's in all 50 states...
In order to draw congressional support from states with somewhat less disaster risk, the federal program is designed to kick in for events that don't necessarily approach the catastrophic level...
(Excerpt) Read more at online.wsj.com ...
Democrats want to nationalize all buisness and make themselves the biggest thieves of all time. And the rinos love it.
A billion dollars here, a billion dollars there....pretty soon we’re talking some serious money....
It’s all over, folks. We might as well declare the idea of the land of the free and the home of the brave officially over.
What don’t socialists want to nationalize?
As a Floridian, I could sure use the break of $500, but not on the backs of my fellow citizens
What about earthquakes in Kalifornia or twisters in the midwest, Congress going to insure every major disaster?
I don't get why home insurance doesn't work like car insurance. At least with car insurance, insurers will refuse to write policies for certain vehicles because of the potential for loss. Why can't home insurance be the same way?
Freedom and individual responsibility.
What they are trying to do isto write the insurance but lay off the re-insurance risk on the government (read-you and me).
They already have gotten away with some of this through FEMA flood insurance which never shouldhave been available in the first place.
As to FEMA insurance etc, as the Good Book says, "The man that builds his house upon the sand is a foolishman."
Florida folks have cheap taxes...and that’s a big draw to the state....especially for retirees. So they have to pay flood insurance...Boo Hoo. Let the state provide the insurance...and raise FLORIDA taxes....not mine.
So, those of us living in the other 49 states got to pay for somebody else's stupidity.
and it's a nightmare
my premium is over $10K and my deductible (mandatory) is $25K
so I need to sustain $35K in damage before I see a penny
You are better off putting the $10K each year into hardening the house (shutters, roofing, storm proof windows) then banking the premium
conversely if you don't have windstorm insurance and your house is damaged your homeowners carrier has no one to delay the claim by arguing with the other carrier and FEMA kicks in.
Windstorm premiums are literally money thrown into the wind ..... when it's socialized the ever increasing federal mandates for material and compliance will be used to regulate where you can have a home
the federal government does nothing well or efficiently they will muck up insurance as surely as they have everything else they attempt
.
originally said by one everett dirkson I believe..
"And guess what this liberal would be all about? This liberal wh0re would be all about socialize -- er, uh, uh, uh, uh, would be about basically tabaking obover and the gobovernment rubunning all of your cobompanies."
Welcome to the Obamanation, comrade!
But environmentalists and other critics ...say lower premiums would more likely spur irresponsible coastal development, already a big factor in insurance costs. The program could also shift costs to taxpayers in states with fewer natural-disaster risks.
This is one issue where I’m onboard with the evironmentalists. If you put this on the taxpayers there will be no disincentive to developers because they know Uncle Sugar will always bail them out.
Why do you libs come here with your tripe go back to MOVEON.org where you belong..........
That's exactly what they should have done in the first place.
What they are trying to do isto write the insurance but lay off the re-insurance risk on the government (read-you and me).
Considering how important Florida is to presidential politics, this will pass so quickly.
Being a fellow Floridian I also want to save money. Socializing will not save anyone anything. That $500 plus another $500 will be used up by the bureaucracy. We still won’t be able to get insurance and the next time there is a major storm we will learn all the insurance funds were funneled off to medicare.
Democrats want to nationalize everything except lawyers.
really? I have state farm and pay about $1800 a year. But then i don’t live on the beach or have a mansion.
I have Citizens on my old house after State Farm dumped me. They don’t insure rental property. Citizens is higher than State farm there.
“want to nationalize “
that says it all. Their goal is to make the country a socialist paradise in which all businesses are owned by the collectivity (government).
If you have a mortgage and live in the 100 year flood plain your lender will force you to get flood insurance from FEMA.
So why does the state charge me for Citizens when I have other insurance?
Ah yes, the new favorite MO of big business: socialize the costs and privatize the profits.
Mushmouth?
It ain’t over until they try to take our guns. If they ever go that far, its round 2.
Hopefully, Florida voters are smart enough to see that this is merely rhetoric aimed at buying their votes.
Don't tell them about our guns---
The simple math here:
$500 worth of taxpayer subsidization
- $500 reduction in insurance premiums
Hmmm - how is money created here exactly.
Risk can be shared across a larger and larger number of people and that can slightly lower insurance costs overall. But, these large insurance companies are already sharing the risk across the entire world’s insurance industry.
The question then is - why should a North Dakota resident (which has fewer insurance risks) subsidize Florida homeowners (who have higher risk and claims due to tropical storms)?
I would think the enviro wackos would be filling Daily Kos and DU with threats of violence and mayhem in protest to this proposal.
and live in the 100 year flood plain
OK
Why do you libs come here with your tripe go back to MOVEON.org where you belong..........
A: ... I'm not a lib by any stretch
B: ... my 10K premium here in Key West (yes I can see the water out my windows)from Citizens is a joke. It is a policy which I will pay into but from which I will never be able to collect
Citizens formulation effectively put all private windstorm providers out of business (except for Lloyds) and has no competition and no flexibility.
I understand that ability to discern someone's politics is directly correlated to the ability to comprehending a post. Perhaps your proximity to open water rivals that of your knowledge of windstorm insurance in a free market
Just a note of caution before you again begin throwing pejorative ad hominem at a fellow FReeper
and you forgot to thank me for paying part of your state subsidized premium
.
Because some politicians are trying to buy votes, that's why.
The state plans to mandate ever stricter building standards once they are the only game in town and you are effectively taxed by paying into this noncompetitive insurance pool
.
the figures show that the mid west flood plane is where the vast majority of the claims originate
when you can see the water out your window you tend to build to suit the terrain
.
Democrats in Congress want to nationalize a chunk of the insurance business that covers major storm-damage claim...
Holy crap!....the march to socialism continues. This is insanity.
Yea forgot about the lender part..he owns outright
And I want a pony.
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