CastletonSnob Posted July 12, 2023 Share Posted July 12, 2023 Farmers Insurance pulls out of Florida, affecting 100,000 policies WWW.CBSNEWS.COM It's the fourth major insurer to exit the state, a sign of the growing toll of climate change on the hurricane-prone state. Quote Link to comment Share on other sites More sharing options...
PaladinSolo Posted July 12, 2023 Share Posted July 12, 2023 No worries they kept woke math out of the state. 1 1 1 Quote Link to comment Share on other sites More sharing options...
SoberChef Posted July 12, 2023 Share Posted July 12, 2023 Wasn't this predicted to happen some time ago, or possibly I am confusing this with insurance companies exiting California as well? Quote Link to comment Share on other sites More sharing options...
Fizzzzle Posted July 12, 2023 Share Posted July 12, 2023 27 minutes ago, SoberChef said: Wasn't this predicted to happen some time ago, or possibly I am confusing this with insurance companies exiting California as well? National insurance companies have been gradually pulling out of Florida for years now. Same with Louisiana, to a lesser degree. Quote Link to comment Share on other sites More sharing options...
Brian Posted July 12, 2023 Share Posted July 12, 2023 Thanks Biden. climate change hoax continues Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted July 12, 2023 Share Posted July 12, 2023 1 hour ago, SoberChef said: Wasn't this predicted to happen some time ago, or possibly I am confusing this with insurance companies exiting California as well? They’re leaving both! Quote Link to comment Share on other sites More sharing options...
Firewithin Posted July 12, 2023 Share Posted July 12, 2023 they decided they cant make money off disasters so dont bother Quote Link to comment Share on other sites More sharing options...
Jwheel86 Posted July 12, 2023 Share Posted July 12, 2023 My parents sold their beach house in NC recently in part because of this concern. Quote Link to comment Share on other sites More sharing options...
outsida Posted July 13, 2023 Share Posted July 13, 2023 14 hours ago, PaladinSolo said: No worries they kept woke math out of the state. As Farmers Insurance pulls out, Florida CFO slams company as ‘woke,’ Dems unload on GOP WWW.LOCAL10.COM The fallout continues after another major insurance company chose to pull out of Florida’s ailing property insurance market. State Republicans are now blaming “Woke” insurance… Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted July 13, 2023 Share Posted July 13, 2023 The free market is now woke. Quote Link to comment Share on other sites More sharing options...
outsida Posted July 13, 2023 Share Posted July 13, 2023 Money doesn’t sleep Quote Link to comment Share on other sites More sharing options...
Ominous Posted July 13, 2023 Share Posted July 13, 2023 It's almost like non hurricane prone parts of the country can't subsidize idiots that choose to live where there are storms every year, flooding, and rising sea levels.... Quote Link to comment Share on other sites More sharing options...
Nokra Posted July 13, 2023 Share Posted July 13, 2023 "Reality has a liberal bias" comes to mind. 1 Quote Link to comment Share on other sites More sharing options...
unogueen Posted July 13, 2023 Share Posted July 13, 2023 43 minutes ago, Nokra said: "Reality has a liberal bias" comes to mind. Survival has a liberal bias. Either people give a shit or they don't. Quote Link to comment Share on other sites More sharing options...
Kamusha Posted July 13, 2023 Share Posted July 13, 2023 https://www.propertyinsurancecoveragelaw.com/files/2023/05/Hedge-Paper-How-Ron-DeSantis-Sold-Out-Florida-Homeowners_-May-2023-FINAL.pdf Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted July 13, 2023 Share Posted July 13, 2023 14 hours ago, Ominous said: It's almost like non hurricane prone parts of the country can't subsidize idiots that choose to live where there are storms every year, flooding, and rising sea levels.... Might as well respond to this since I'm one of those "idiots" I guess: It's more than that. Even before Hurricane Ian last year, Florida's insurance market was in shambles. Citizens Insurance -- our state's government insurance of last resort -- was exploding at an unhealthy level. Insurance companies were closing or kicking off customers, yet we hadn't been hit by a massive hurricane since 2018. By all accounts, the insurance market pre-Ian should have been healthy with no disasters since Hurricane Michael in 2018. Insurance experts warned that with the market in an unhealthy position with no landfalling hurricanes, the legislature needed to act as a hurricane landfall could take an already unhealthy insurance market and send it spiraling. We should see shifts based on if we're being hit by hurricanes or not, but we were seeing skyrocketing premiums when nothing hit us. The legislature did act with no leadership from DeSantis. There was zero short-term relief, but there is a possibility that some of what they did may be beneficial long-term since some insurance companies posted their first profits in years. Considering people's insurance is going up thousands of dollars from one year to the next, the lack of short-term relief was stunning. Quote Link to comment Share on other sites More sharing options...
stepee Posted July 13, 2023 Share Posted July 13, 2023 15 hours ago, outsida said: As Farmers Insurance pulls out, Florida CFO slams company as ‘woke,’ Dems unload on GOP WWW.LOCAL10.COM The fallout continues after another major insurance company chose to pull out of Florida’s ailing property insurance market. State Republicans are now blaming “Woke” insurance… What’s funny is AllState and State Farm and the entire republican party blamed those two pulling out of CA on the woke libs too. In that case they basically are trying to extort for more money and are being taken to court for the move for that reason. They are upset that they can’t arbitrarily raise rates in California and they have to be reviewed. I don't think gouging customers to death is the solution here. The problem itself is apolitical as it’s literally determined by the climate of the location but how it will be dealt with will likely be divided between social programs to assist (dems) and doing nothing and burying their heads in the sand and blaming something completely irrelevant (reps). It might be an interesting thing to watch this very similar problem and in a few years how CA and FL are handling it compared to each other. Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted July 13, 2023 Share Posted July 13, 2023 If farmers weren’t good at pulling out we’d have tons of human-sheep hybrids running around. 1 1 1 Quote Link to comment Share on other sites More sharing options...
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