A information story caught my consideration as a result of I preserve studying quotes by politicians that the Florida insurance coverage market has rotated. Possibly Florida’s politicians are afraid of what might occur within the November elections. The story by Jeff Deal of Motion 9 Information, ‘What They’re Doing is Simply Rotten’: Owners Declare Shock Insurance coverage Value Them Hundreds, said partially:
Ewing’s insurance coverage firm, Farmers Insurance coverage even pulled out of Florida and one other insurance coverage firm known as Slide took over 86,000 Farmers insurance policies and tens of hundreds extra insurance policies from different firms.
Ewing mentioned, ‘The speed that they wished was astronomical.’
Slide despatched him a discover letting him know his renewal can be round $3400 which is almost 4 occasions the quantity of his outdated Farmers coverage. Mike Ewing declined the supply and in July even acquired a discover of cancellation from Slide. However a month after cancelling, his data present Slide Insurance coverage nonetheless went to his mortgage firm with a brand new coverage and requested the cash from his escrow account and his mortgage firm despatched it.
‘All people in Florida, I feel at this level, is battling insurance coverage and for an organization to swoop in like this and do what they’re doing is simply rotten,’ mentioned Ewing.
What do our elected representatives and insurance coverage regulators consider that?
Thought For The Day
You don’t want a weatherman to know which method the wind blows.
—Bob Dylan