"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!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.