Comments on: Citizens Insurance Board Talks Higher Rates For 2013 http://www.northescambia.com/2012/07/citizens-insurance-board-talks-higher-rates-for-2013 Local News for Molino, Bratt, McDavid, Century, Walnut Hill, Cantonment Tue, 07 Apr 2026 16:50:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Randall http://www.northescambia.com/2012/07/citizens-insurance-board-talks-higher-rates-for-2013/comment-page-1#comment-149888 Randall Sat, 06 Oct 2012 16:06:20 +0000 http://www.northescambia.com/?p=102968#comment-149888 While I am all for free market competition and minimal government regulation, the system we have is no longer "free market" and is abusive. We all must have a place to live and must pay a mortgage (or rent, in which case your rent pays indirectly). The banks are allowed to force you to have insurance to remove THEIR risk even though they could negotiate a much better premium rate or absorb losses that you as an individual can. Then we have no real competition among the insurers - they all charge premiums that are not affordable and keep increasing rates meanwhile their risk is the same. For me, the root cause is the banks being allowed for require insurance. They should not be allowed to do that. Yes our mortgage rates will go up but it would be a better system. We no longer have a true capitalist free market. It has now become a predatory environment where the middle class is the prey and giant companies are the predators. While I am all for free market competition and minimal government regulation, the system we have is no longer “free market” and is abusive. We all must have a place to live and must pay a mortgage (or rent, in which case your rent pays indirectly). The banks are allowed to force you to have insurance to remove THEIR risk even though they could negotiate a much better premium rate or absorb losses that you as an individual can. Then we have no real competition among the insurers – they all charge premiums that are not affordable and keep increasing rates meanwhile their risk is the same.

For me, the root cause is the banks being allowed for require insurance. They should not be allowed to do that. Yes our mortgage rates will go up but it would be a better system.

We no longer have a true capitalist free market. It has now become a predatory environment where the middle class is the prey and giant companies are the predators.

]]> By: Albert http://www.northescambia.com/2012/07/citizens-insurance-board-talks-higher-rates-for-2013/comment-page-1#comment-135609 Albert Wed, 18 Jul 2012 15:32:57 +0000 http://www.northescambia.com/?p=102968#comment-135609 What’s the big deal with sinkhole coverage? Are there really that many homes and businesses being eaten by sinkholes in Florida that the insurance companies are bailing out over them…I just had Nationwide tell me that they are dropping my home owner coverage due to sinkhole coverage… What’s the big deal with sinkhole coverage? Are there really that many homes and businesses being eaten by sinkholes in Florida that the insurance companies are bailing out over them…I just had Nationwide tell me that they are dropping my home owner coverage due to sinkhole coverage…

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