[Rhodes22-list] Coastal Living - Insurance

[john Belanger]

insurance companies are in the business of making money. they hedge their bets like any good bookie would. the one thing to remember about them is that they are also known by their other important title: institutional investor. i fault the state and federal governments in allowing them to leave a state (especially after a large insurance loss). they are national companies, and should be allowed and required as such to offer coverage nationally. take off any cap on fees for catastrophic event coverage. if people are willing to pay, insurance companies should be allowed to charge whatever the traffic will bear. in return, everyone should be covered for minimal coverage.  
   
  Brad Haslett <flybrad at gmail.com> wrote:
  This was predictable. The Sun-Herald (Biloxi-Gulfport) had an article today
about State Farm insurance and the fact they aren't writing any more
homeowners policies in Florida. Nationwide and Allstate came to the same
conclusion earlier (boat insurance is sure to follow). Now I understand it
is hard to love an insurance company, but this is a perfect example of what
happens when 'da gubment' sticks its nose in private business, you don't get
cheaper prices, you get fewer services. Both Mississippi and Florida (and
other states) have gone after insurers through their state insurance
commissions and Attorney Generals, and the net result has been for the
insurance companies to pick-up their bat, and ball, and glove, and go
somewhere else to play. Those of us who live inland pay as well - my
earthquake coverage was canceled due to Katrina, huh? It sounds silly but
that's the way it works. The 2004/05 hurricane season gave the big boys
bloody noses so they reduce their risk somewhere else to limit their
exposure. Now here is the next thing that's predictable as hell, politicians
will line-up during an election season and spout how they're going to
protect you from those "greedy" insurance companies. BS. This is reality
and the only thing you can do to remedy the situation is to take on more
risk yourself, or move. If you love FEMA, you'll really love universal
health care.

Brad
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