Posted on 04/08/2023 1:49:52 PM PDT by jimwatx
DeSantis is instituting socialist insurance policy in Florida. When the next hurricane comes those covered by the last resort state insurance fund and other insurers will be required to pony up the money for any losses beyond what the state insurance fund can cover. How can someone who pretends to be conservative come up with something like this? Yeah I know he's good on social issues it's his position on other issues I worry about.
I’m confused. By the way you describe it, it sounds as if he is making the policy less socialist.
the alternative is what exactly? are you more in favor of tax-payer funded bailouts instead?
-PJ
I’m grateful he’s getting to business with insurance. He’s a god sent to the good people of Florida. Insurance has been a challenge and he’s correcting it.
Also I lived in Florida.
People should be responsible for losses in excess of their socialized risk insurance? Horrors! Personal responsibility - who needs it?
Let’s say you have 2 homeowners both covered by the state insurance fund one in Tampa the other in Miami. Hurricane hits Miami with massive destruction that blows out that fund. The state of Florida now says to everyone else in the state covered by insurance that they are now required to make up the difference out of their own pocket.
When I grew up in Florida, homeowners and construction companies chose building materials that could withstand hurricans (hello cinderblock).
The issue is home owner education, building codes, and challenging the architects and general contractors to get back to the common sense 1950s.
If you build with flimsy materials, they only insurance you should be eligible for is to clear the land after your POS domicile is flattened.
So, those who benefit year after year with their beach front, ICW front and swamp built mansions should still be rebuilt by the struggling Floridian who is on the same insurance because why?
Most of the people who live on Oceanfront property in Florida are self-insured, Rush Limbaugh for example, I’m fairly certain he had no insurance thru a company, he was self-insured, he could afford to pay for any damage caused by a hurricane.
What’s happening in Florida is they are trying to move people who can’t afford to be self-insured off the ocean because they can’t afford insurance and can’t afford to repair their property in the event of a hurricane. This is just letting people know they are on their own and can’t depend on the taxpayer for a bailout.
Does this mean DeSantis doesn’t believe government has endless buckets of money?
Cool!
Omigosh. An imperfect human being. Horrors.
Good try though, OP.
Thats....... how insurance works.
This was a Tired pathetic Cooked up Desantis Hitless Piece .
Better luck next time with your Desantis smear posts .
LOL .
Isn’t that how casualty insurance has always worked, spreading the risk and cost of casualty losses among all of the policy holders?
It’s the 10th insolvency for a Florida property carrier in the last two years.
https://www.insurancejournal.com/news/southeast/2023/02/20/708627.htm
Florida Insurance companies put themselves into this situation by not pricing their policies high enough to cover the risk. Much easier to take the premium and then use the bankruptcy court to discharge their responsibilities.
“those covered by the last resort state insurance fund and other insurers will be required to pony up the money for any losses beyond what the state insurance fund can cover.”
They will be required to pay for any costs beyond what their policy covers. That sounds like how insurance works.
You could shop around for different insurance I suppose.
It’s Insurance. It pass out what comes in.
Nothing more.
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