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Florida's Property Insurance Problem and Solution's

April 4, 2011

From June 1st to November 30th each year Florida's residents are traumatized by the media hyping agamemnon via a category five hurricane slicing through the peninsular leaving death and billion's of dollars of destruction. Florida's property owners are faced with two options; pay exorbadent premiums to the large insurance carriers, Like Allstate, State Farm, and Nationwide, or insurer with much smaller companies with anemic balance sheets, who rely heavily on reinsurers in Bermuda and Lloyd's

Private Sector Solutions To Florida's Property Insurance Problems.

April 11, 2008

Analysis of:Florida Property Insurance Poll: No More Quick Fixes | www.insurancenewsnet.com

The article on Florida Property Insurance is somewhat on target. Where it goes aray is injecting government assistance. Politicians never solve anything. The property indemnity marketplace will find viable solutions. The MASH unit approach to property insurance is at best myopic. Insurance companies who write a variety of P&C coverages in the State must follow the State Insurance regulators rate parameters on property coverages, or forfit their right to underwrite all other forms of liabilty in Florida. There also need to be thinking "outside the box", like forming a Florida Insurance Exchange whereby security firms such as Merrill Lynch, under SEC guidance would solicite and form underwriting syndicates, ala LLoyds of London to amass fresh underwriting capital to address both residential and commercial property liability risks in Florida, to the exclusion of the major carriers such as Allstate, Nationwide, State Farm, etc., who have held the citizens of Florida financial hostages.

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