The Florida Insurance Crisis

[Harpy Eagle]

Oceanfront must be limited in Missouri.

But lake front is not

 

[EvilEyeFleegle]

which companies are totally leaving the FL market?

LOL! That word 'totally' changes everything eh?
'No new policies' is the policy..and most insurance companies are getting onboard with that~

MSN

www.msn.com

 

[struth]

LOL! That word 'totally' changes everything eh?
'No new policies' is the policy..and most insurance companies are getting onboard with that~

MSN

www.msn.com

Well that was the claim

Yes some are not issuing policies for new homes on the coast. not all, but some.

Hardly a crisis…not like what we are seeing in Cali. this is purely a choice by some based on hurricanes not govt policies

 

[Tommy Tainant]

Florida rocked by home insurance crisis: ‘I may have to sell up and move’

Soaring hurricane-cover premiums are bad news for the state’s homeowners – and Ron DeSantis is accused of dragging his feet

www.theguardian.com

“Global warming is partly to blame, but so is Ron DeSantis. Instead of banning books and picking fights with Disney and drag queens, he should be tackling the issues that really matter to Floridians.”

 

[EvilEyeFleegle]

Well that was the claim

Yes some are not issuing policies for new homes on the coast. not all, but some.

Hardly a crisis…not like what we are seeing in Cali. this is purely a choice by some based on hurricanes not govt policies

It is EXACTLY what we see in California. Only difference is fire vs hurricane.
In both cases, insurers are exiting the market....as they view the risks outweighing the rewards.

Not a political matter at all.

 

[struth]

It is EXACTLY what we see in California. Only difference is fire vs hurricane.
In both cases, insurers are exiting the market....as they view the risks outweighing the rewards.

Not a political matter at all.

no, it's not, Cali businesses including insurance companies are fleeing...as well as people, due to the Govt.

 

[2aguy]

Florida insurance crisis explained: Why multiple insurers are leaving state

Farmers Insurance has become the latest insurance company to pull out of Florida.

www.newsweek.com

Farmers Insurance has become the latest insurance company to pull out of Florida, despite repeated efforts by Republican Gov. Ron DeSantis and the state legislature to shore up the volatile market.

On Tuesday Farmers informed the state that it is discontinuing new coverage of auto, home and umbrella policies, a move that will reportedly affect 100,000 policies.

"This business decision was necessary to effectively manage risk exposure," Farmers spokesman Trevor Chapman said in a statement to CBS Miami

When there is less choice for customers the price will inevitably go up. As climate change makes the area more volatile then more insurers will likely leave.

It sounds like a time when the state needs a strong leader to get a grip on things and come up with solutions. The government dont even seem to be engaging with the industry.

Insurance is a basic need for any business. Especially a business that is in hospitality. Its a worrying time for Florida.

Climate change isn't making hurricanes occur more often and they aren't worse than before...you simply have so many people moving to Florida from blue states that more people are at risk when hurricanes happen.....you doofus....

Please....explain this in relation to what you just posted.....


But researchers said Monday they have constructed a clearer picture than ever, and found that the frequency of the planet’s most devastating storms has decreased over the past century.

The study, published in the journal Nature Climate Change, found that the annual number of global hurricanes, typhoons and tropical storms — or tropical cyclones, more generally — declined by roughly 13% as the planet warmed during the 20th century.

https://www.cnn.com/2022/06/27/weather/tropical-cyclone-frequency-21st-century-climate/index.html

 

[2aguy]

Farmers insurance is just the latest. There were at least three that announced last year. One can deny change all one wants, but insurance companies are "for profit" corporations and look at history and payouts from a strictly business point of view. When the number crunching means it will be unprofitable and damaging to the company to stay, they pull back to where they can provide their services without financial collapse of the company, to the benefit of their shareholders.

Have you see any of this, the last few days?
View attachment 804754
View attachment 804756

They are saying the unusually high temps point toward hurricane intensification as they near shores and since the phenomena is ocean wide to an extent, a more active hurricane season than was expected.

Again.........the myth of increasing number of hurricanes.....

But researchers said Monday they have constructed a clearer picture than ever, and found that the frequency of the planet’s most devastating storms has decreased over the past century.

The study, published in the journal Nature Climate Change, found that the annual number of global hurricanes, typhoons and tropical storms — or tropical cyclones, more generally — declined by roughly 13% as the planet warmed during the 20th century.

https://www.cnn.com/2022/06/27/weather/tropical-cyclone-frequency-21st-century-climate/index.html

What you have is more people flooding into Florida, and being exposed for the first time to hurricanes....more people, more housing , more risk of damage.........add to that the result of the biden economy where he has attacked energy production, and the cost of building....and repairing damaged homes has increased, which means insuring homes has increased.....

The lies about global warming are just that...lies....

 

[2aguy]

Maybe, even some funded by big oil figure it will get worse.
View attachment 804835

Yeah....the democrat party says we are going to destroy your industry whenever we have power.....making it impossible to invest in new pipeliines and infrastructure....they are investing in the bullshit wind and solar because they have to....not because it makes any sense.....

 

[2aguy]

My folks moved to Citizens, which is the State run insurance company when UPC filed for bankruptcy.

It was $1500 a year cheaper than UPC was charging them pre-hurricane.

It is going to be a problem...because insurance rates are going to have to go up to cover loses...or you're going to have to go without an hope for the best.

The issue is the outlay of money is not going to be cost effective.

If your paying $10,000 a year for insurance and a hurricane hits every 10 years and you need a new roof...you spent $100,000 on a $27,000 roof.

Between property taxes and insurance you're making perpetual payments equivalent to a mortgage payment for as long as you live in florida.

And because of biden and the democrats all construction supplies are going through the roof.....

 

[2aguy]

Florida rocked by home insurance crisis: ‘I may have to sell up and move’

Soaring hurricane-cover premiums are bad news for the state’s homeowners – and Ron DeSantis is accused of dragging his feet

www.theguardian.com

“Global warming is partly to blame, but so is Ron DeSantis. Instead of banning books and picking fights with Disney and drag queens, he should be tackling the issues that really matter to Floridians.”

He isn't banning books..........that you guys keep defending the kiddie porn in school libraries is very interesting.......and no, global warming isn't causing an issue...since major storms and hurricanes are down 13%

But researchers said Monday they have constructed a clearer picture than ever, and found that the frequency of the planet’s most devastating storms has decreased over the past century.

The study, published in the journal Nature Climate Change, found that the annual number of global hurricanes, typhoons and tropical storms — or tropical cyclones, more generally — declined by roughly 13% as the planet warmed during the 20th century.

https://www.cnn.com/2022/06/27/weather/tropical-cyclone-frequency-21st-century-climate/index.html

 

[WorldWatcher]

The only way you could get me to move to Florida is if we had the same type of house we had in Guam.

WW

 

[2aguy]

Well that was the claim

Yes some are not issuing policies for new homes on the coast. not all, but some.

Hardly a crisis…not like what we are seeing in Cali. this is purely a choice by some based on hurricanes not govt policies

Yes......refugees from democrat party run blue cities are increasing the number of people exposed to hurricanes......it has nothing to do with the man made global warming cult religion, and everything to do with the democrat party destroying the cities they control...driving people out and into red states...

 

[struth]

Yes......refugees from democrat party run blue cities are increasing the number of people exposed to hurricanes......it has nothing to do with the man made global warming cult religion, and everything to do with the democrat party destroying the cities they control...driving people out and into red states...

you make a good point

 

[White 6]

Again.........the myth of increasing number of hurricanes.....

But researchers said Monday they have constructed a clearer picture than ever, and found that the frequency of the planet’s most devastating storms has decreased over the past century.

The study, published in the journal Nature Climate Change, found that the annual number of global hurricanes, typhoons and tropical storms — or tropical cyclones, more generally — declined by roughly 13% as the planet warmed during the 20th century.

https://www.cnn.com/2022/06/27/weather/tropical-cyclone-frequency-21st-century-climate/index.html

What you have is more people flooding into Florida, and being exposed for the first time to hurricanes....more people, more housing , more risk of damage.........add to that the result of the biden economy where he has attacked energy production, and the cost of building....and repairing damaged homes has increased, which means insuring homes has increased.....

The lies about global warming are just that...lies....

Hmmm. Could be.

 

[White 6]

Yeah....the democrat party says we are going to destroy your industry whenever we have power.....making it impossible to invest in new pipeliines and infrastructure....they are investing in the bullshit wind and solar because they have to....not because it makes any sense.....

Talk to the people in Texas (I thought you were a Texas guy) and see if they are willing to give up on their use, but don't hold your breath.

 

[EvilEyeFleegle]

no, it's not, Cali businesses including insurance companies are fleeing...as well as people, due to the Govt.

Apples and oranges. The flight from California by businesses has nothing to do with insurance companies declining to issue new policies.

BTW...a whole lot of young adults are fleeing Florida....I bet your ignorant ass thinks that's fake news also....

 

[EvilEyeFleegle]

Climate change isn't making hurricanes occur more often and they aren't worse than before...you simply have so many people moving to Florida from blue states that more people are at risk when hurricanes happen.....you doofus....

Please....explain this in relation to what you just posted.....


But researchers said Monday they have constructed a clearer picture than ever, and found that the frequency of the planet’s most devastating storms has decreased over the past century.

The study, published in the journal Nature Climate Change, found that the annual number of global hurricanes, typhoons and tropical storms — or tropical cyclones, more generally — declined by roughly 13% as the planet warmed during the 20th century.

https://www.cnn.com/2022/06/27/weather/tropical-cyclone-frequency-21st-century-climate/index.html

Insurance companies say otherwise.

 

[Freedomisneverfree]

Well, the illegals can't afford the insurance rates....they need to get going to Cali!

 

[Cougarbear]

Bye bye Florida.

Bye-Bye California. Farmers, AllSnake and now Snake Farm have left California as well. Stupid forest management by California has caused this. Not Climate Change.