This makes sense. As it stands someone says, “I want to build a condominium on this beach right here but I can’t sell it to make my millions of dollars unless I can get insurance on it.”

Normal insurance companies say, “But you want to put a huge target for hurricanes right in front of hurricanes, built on shifting sand where storm surges can easily destroy it.”

The builder says, “I don’t care if it’s destroyed as long as I can sell it first and the buyers don’t care if it’s destroyed as long as they get the money to buy a replacement.”

Insurance company then says, “We’d have to charge enough for insurance to replace the condo every few years. We’re no longer interested, too many hurricanes lately.”

Builder says, “Problems getting insurance are hurting the economy (meaning MY pocketbook) so the State’s going to have to bail me out or the only thing on these beaches will be people visiting.”

Politician responds, “Sure thing. We‘ll just spread out the cost so it‘s paid by those who can‘t afford the condo in the first place and make it cheap enough for you and your buyers. Oh and unrelated but don’t forget I’m running for re election and need contributions.” wink, wink

David thinking “sink or swim”
is better than “sink others
so the rich can swim”

Right now, all of the people in Escambia and North and Central Florida are subsidizing the premiums of the folks in Dade, Broward, Palm Beach, Pinellas, and Hillsborough counties, where most Citizens policies are sold. Do you think that helps people up here? No way.

Upset…tornados and even earthquakes are dwarfed by the threat of hurricanes. Govt overregulation and prcie controls have driven away most of the financially stable, large insurers, and replaced them with Citizens and a bunch of fly-by-night start-up companies. Both of those will have big challenges paying your claims.

If you pay insurance in FL, YOU are paying to underwrite citizens… this is great for developers, but a tax we don’t need!