There is an interesting article in the Sentinel today that I will not rewrite here, but I did want to point you to it. It discusses the Florida insurance problems as well as other commitments that the candidate make. Keep in mind friends, there is only so much money. Many of the new dollars coming into the state budget are starting to dry up or not be here as they was expected and after years with Jeb at the helm with high spending and tax cuts, slow times might be ahead for the state budget.

That of course could be a preview of what to expect on the national level in 09.

Both candidates claim that they have a workable solution to the insurance issue and it should be the number one issue on their tongue during the next few weeks prior to election, but keep in mind, they have made commitments to other programs as well. Where will the money come from? Well Crist shrugs off talk that he might be promising voters more than what he can cover while standing by his pledge to never support a tax increase. “Government’s got enough,” Crist said.

Nice well spoken answer Charlie.

Of course, Jim Davis cannot be left out of this fire as well. At least he is being upfront and mentioning some possible tax increases. He wants to balance the $1 billion school property-tax cut he is proposing by reinstating the just-repealed intangibles tax on investments.

The intangibles tax was imposed chiefly on wealthier Floridians and businesses. Davis has said that restoring at least a portion of that levy and possibly ending some sales-tax exemptions for businesses could allow more state dollars to flow to schools.

Davis also plans to use a chunk of the state’s surplus cash to create a $1 billion Teacher Endowment Fund to increase teachers’ salaries an average $3,835, bringing them to the national average. And he would spend $800 million of the state’s new money to cut Florida’s $22.5 billion debt.

How will you pay for this Mr. Davis? All great issues, plus your hurricane plan. Give us the details.

Want to read the Sentinel article completely, click here.

There was an interesting proposal coming out of local panel in Largo, Florida yesterday. Imagine coastal states like South Carolina, Louisiana, Mississippi – and of course, Florida – all banding together to fund each others’ hurricane losses.

That was one proposed solution to Florida’s insurance crisis discussed Thursday at a meeting of the governor’s Property and Casualty Insurance Reform Committee.

Florida Insurance Commissioner Kevin McCarty said he had received a letter from Gov. Jeb Bush indicating that some states had expressed interest in the idea of a coastal states catastrophe fund.

Several other proposals aimed at fixing the state’s insurance crisis were discussed during the all-day meeting at the St. Petersburg College EpiCenter Collaborative Lab in Largo. The insurance reform committee, chaired by Lt. Gov. Toni Jennings, has been meeting around the state since it was created by Bush in June. The panel will present its initial findings to the governor no later than Nov. 15.

Another proposal was one introduced by state Sen. Steven Geller, D-Hallandale Beach, and State Rep. Dan Gelber, D-Miami Beach, called for the state to assume the first layer of risk on homes – say the initial $50,000 or $100,000 of damages – and let private companies cover the rest.

It is good to see the Governors panel working to come up with ideas on this crisis. His administration was the one that has failed to protect the states citizens from this as it was happening. They are the one’s that allowed this massive increases and coming up with solutions is important.

But one thing that I have noticed is that they are not coming up with solution that will require the stretching of all of our budgets, included the state treasury. As an example of why this is a problem please look at the following few links to off site articles.

There are others. The insurance companies will tell you that these are not profits from the state of Florida, these are profits from the parent company, or these are profits from the non-Florida parts of the company. Well isn’t that what insurance is for? Some people have losses, some don’t, and the insurance company is betting that they will have more wins then losses. They continue to raise Florida rates while pushing the profits from our premiums to the mother ship out of state hording it for their board of directors. Let them help to fix our problem.

Been to a local town hall or local community meeting on the Insurance Crisis? Please let us know how it went, what was said, and what elected officials said in your area. Let us make them accountable for their actions and words at the polls.

If you would like to comment, there is a section below or you can email us at info@floridainsurancecrisis.com