Posey Will Lead the Charge for Insurance Committee in the Senate

Posted on November 3, 2006 by rob

Brevard County lawmaker Bill Posey will lead the Senate’s insurance committee in the new leadership team when the Legislature comes back to tackle Florida’s insurance crisis.

Posey is faced with what he calls a “seemingly impossible” situation. Property insurance, if it’s available at all, is nearly unaffordable for many home and business owners.

“I don’t look forward to this,” he admits. “But you do the best you can.” Not necessarily confidence inspiring words if I have to say so myself.

Posey says he knows the property insurance problem will be contentious.

“There will be a lot of people screaming before this is over, and I’ll need a bodyguard.”

Do it right Mr. Posey and you will have millions of Florida homeowners willing to protect you.

Regulators Reject USAA Rate Hike Request

Posted on November 2, 2006 by rob

USAA’s 200,000 Florida residential insurance policyholders won’t get hit with a rate increase as high as the company wanted after state regulators rejected its request for an average statewide hike of 40 percent.

The Office of Insurance Regulation’s denial said the company failed to provide enough evidence to support the losses it said it could expect and didn’t justify the profits it was seeking.

“During the public hearing we heard from many policyholders whose household budgets are extremely strained by rising property insurance premiums,” said Insurance Commissioner Kevin McCarty, in a statement. “If we are asked to approve even higher rates, we must demand that the request is fully justified, and that is just not the case with this filing.

The question to ask at this point is where were these regulators for the past 3 or more years. Is the Governor putting pressure on the OIR to not allow increases so that the Republicans campaigning will have a better chance? We will have to see if there are any request after the election and see the results.

Will the Insurance Crisis Affect The Way You Vote

Posted on November 2, 2006 by rob

As I was looking at the races that will be on the ballot that I use next Tuesday, I started looking at the candidates to see if the Florida Insurance Crisis has affected my thoughts on any of the candidates. I do not believe that it has altered my thinking on any of the candidates, just made more aware of their positions on different issues.

So, my questions to you is, “Has the Insurance Crisis affected the way that you will vote next Tuesday?” Please leave me a comment and let me know.

If it has not, is there a major issue. state wide or nationally, that has altered your thoughts on voting for this year.