Insurance Legislation: Good Solution or Financial Gamble?
The Florida House and Senate yesterday passed legislation to address the State's insurance crisis. It now awaits Governor Crist's signature.
For an easy to understand explanation of what was approved click on the link below:
http://www.news-press.com/apps/pbcs.dll/article?AID=/20070123/SS04/70123001/1075
Tell us what you think about the legislature's action:
Is it a good solution and/or will it end up costing us all more tax money?
posted by Blog Master @ 10:02 AM
20 Comments:
Why not enact a statewide impact fee to fund the Disaster Fund?
We are sticking it to developers on everything else. So why not on this also?
Thank you Charlie Crist! You're a politician who stands by his promise.
According to my Allstate agent, I'm not likely to get any reduction in my premium for my home insurance. According to her, she won't know for sure until June what the rates are. Rates may even go up. That's a bummer!
I read several blogs and came across this anonymous posting from a blog in another city. Seems to sum up a concern of others, including mine:
“Just remember, Florida taxpayers, this "legislature gone wild" is gambling with your money. It used to be that lobbyists took the legislators to Las Vegas. This time the legislature left the lobbyists at home and took the taxpayers to Las Vegas. The odds are about 3 to 1 against us. Besides, even if we win, we lose because we are stuck with crappy politically run half-assed insurance through Citizens.
Looks as if (Alex) Sink sunk when it came to protecting the state's financial integrity.”
Guess I have the wrong type of house and friends who also do. I don’t know anyone locally who has had any big increases in their property insurance. Is this really a problem around here?
I agree with the first comment. After all if all the buildings, homes, etc. hadn't been built, we would not have to worry about them being destroyed by hurricanes.
Just joking folks!
INSURANCE REFORM SCOREBOARD
Homeowners 1
Business Owners 0
A statewide impact fee is not a good idea. As far as sticking it to the developers on everything else, when the developer's cost goes up by $1.00 they raise price by $1.00 plus. As long as all developers in an area have to pay the same fee it is the purchaser who is really doing the paying not the "poor" developer.
My home insurance bill is up 8% over last year when I paid it.
Charlie Crist, the “peoples governor”. Which people? Sure not me.
Anonymous at 8:21 AM: So let the purchaser pay. It’s their new home that’s creating the IMPACT.
See that Governor Crist is now going after high property taxes and big spending at the local levels. Much needed.
NOTICE WE HAVE NOT HEARD FROM AGENT ON INSURANCE. GUESS IT'S NOT ON HIS LIST OF SUBJECTS.
This is very comforting news from our State’s Chief Financial Officer:
Alex Sink said Friday she now wants to help people understand the extra risks they could face under the new law.
"A real balancing act is going on," she said in an interview with The Associated Press. "Providing relief but not mortgaging our future."
This insurance bill thing ain't going to work, in my opinion.
A democrat in charge of our State's finances, that's very comforting.
Yes, it is actually very comforting to have a Democrat in charge of our finances. You can't trust elected Republicans with your money. Just look at the last 6 years of Republican rule in Congress as a perfect example.
Sorry Anonymous, what happens in Washington D.C. doesn't necessarily correlate in Florida.
The jury is still out on Ms. Sink. I'm dissapointed she didn't speak out more forcefully about the longer term consequences of the insurance legislation.
Hope she isn't the typical Democrat: let someone else make the decision and then complain and blame them if it doesn't work and take credit if it does.
Time will tell.
A good article about the “what ifs” of the insurance legislation if we were to have a major disaster in the State:
www.tbo.com/news/metro/MGB6Y2BUJXE.html
Also, thanks for fixing the link to the background on the insurance legislation. Could not get to it for the last few days.
This and the property tax proposal will be Crist's downfall.
I thought we had only one Democrat in the Florida cabinet (i.e., Alex Sink). Now I know we have two.
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