Comments on: Groups Want To Eliminate Hurricane Surcharges From Insurance Bills http://www.northescambia.com/2011/01/groups-want-to-eliminate-hurricane-surcharges-from-insurance-bills Local News for Molino, Bratt, McDavid, Century, Walnut Hill, Cantonment Sat, 11 Apr 2026 17:01:22 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: John Payne http://www.northescambia.com/2011/01/groups-want-to-eliminate-hurricane-surcharges-from-insurance-bills/comment-page-1#comment-68894 John Payne Sun, 23 Jan 2011 12:42:13 +0000 http://www.northescambia.com/?p=41848#comment-68894 this is long overdue. If you want to live near the water that is fine. If you want the rest of Flordia to help pay your insurance, that is not ! this is long overdue. If you want to live near the water that is fine. If you want the rest of Flordia to help pay your insurance, that is not !

]]> By: Jim W http://www.northescambia.com/2011/01/groups-want-to-eliminate-hurricane-surcharges-from-insurance-bills/comment-page-1#comment-67764 Jim W Wed, 19 Jan 2011 20:09:58 +0000 http://www.northescambia.com/?p=41848#comment-67764 I agree with Bill Scott. He is spot on. There are a lot of things that have to be considered. I also agree there is a lot of Cherry Picking! I agree with Bill Scott. He is spot on. There are a lot of things that have to be considered. I also agree there is a lot of Cherry Picking!

]]> By: Bill Scott http://www.northescambia.com/2011/01/groups-want-to-eliminate-hurricane-surcharges-from-insurance-bills/comment-page-1#comment-67745 Bill Scott Wed, 19 Jan 2011 14:07:58 +0000 http://www.northescambia.com/?p=41848#comment-67745 As an owner of an Insurance Agency who has contracts with about 10 Homeowner Carriers...I must point out that these groups obviously represents the domestics insurance carriers of FL and is very misleading. First Citizens does not insure homes over $1 million and any home over $750,000 near the coast MUST have Miami Dade compliant window and door protection. Secondly, it is the smaller, older homes that can be miles from the coast that no domestic carriers want, the homes the typical retirees live in. If the "domestics" do write it, the price is extremely high. Third, the FL domestic insurance carriers have had 5 years of no storms, yet there has been no substantial build up of reserve accounts. The money taken in goes to reinsurance at ever increasing rates and to pay the principals of the domestic companies. These mostly Bermuda reinsurers operate in secrecy and have received something like $15 billion in premiums from Flroidians during the past 5 years of no storms, but this money goes to profit reinsurers, not to build up any reserves for the benefit of Floridians. Citizens only needs to be in the Hurricane Wind business and concentrate on providing just enough coverage to meet Federal Lending guidelines and concentrate on building a State Hurricane Superfund, that can keep these billions of dollars now going to reinsurers under State control. Corporate greed at the expense of all Floridians is causing much of this problem. These corporations want to charge whatever they want and to "cherry pick" the newer inland homes at the expense of the older homes miles from the coast. As an owner of an Insurance Agency who has contracts with about 10 Homeowner Carriers…I must point out that these groups obviously represents the domestics insurance carriers of FL and is very misleading. First Citizens does not insure homes over $1 million and any home over $750,000 near the coast MUST have Miami Dade compliant window and door protection. Secondly, it is the smaller, older homes that can be miles from the coast that no domestic carriers want, the homes the typical retirees live in. If the “domestics” do write it, the price is extremely high. Third, the FL domestic insurance carriers have had 5 years of no storms, yet there has been no substantial build up of reserve accounts. The money taken in goes to reinsurance at ever increasing rates and to pay the principals of the domestic companies. These mostly Bermuda reinsurers operate in secrecy and have received something like $15 billion in premiums from Flroidians during the past 5 years of no storms, but this money goes to profit reinsurers, not to build up any reserves for the benefit of Floridians.

Citizens only needs to be in the Hurricane Wind business and concentrate on providing just enough coverage to meet Federal Lending guidelines and concentrate on building a State Hurricane Superfund, that can keep these billions of dollars now going to reinsurers under State control. Corporate greed at the expense of all Floridians is causing much of this problem. These corporations want to charge whatever they want and to “cherry pick” the newer inland homes at the expense of the older homes miles from the coast.

]]> By: John Doe http://www.northescambia.com/2011/01/groups-want-to-eliminate-hurricane-surcharges-from-insurance-bills/comment-page-1#comment-67734 John Doe Wed, 19 Jan 2011 12:21:07 +0000 http://www.northescambia.com/?p=41848#comment-67734 I agree with this group. We should not have to pay for someone to live on the water. If this continues, then the homeowners should not be allowed to rebuild on that site. We should not have to continue to support their lifestyle. Let them move away from the coast, or pay their own way. The people of Florida that is paying the most, can't afford it. I agree with this group. We should not have to pay for someone to live on the water. If this continues, then the homeowners should not be allowed to rebuild on that site. We should not have to continue to support their lifestyle. Let them move away from the coast, or pay their own way. The people of Florida that is paying the most, can’t afford it.

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