There is barely enough money for 1 storm in 1 Hurricane season and what if we have 2 storms???? If Florida, which will affect Fort Lauderdale and all of Soouth Florida worse, could see more major rate hikes soon as the Federal plan is just not likley. The Florida Cat fund may need to lower it’s exposure by 5 billion or more per storm and if that happens then all of the carriers will be required to get more expensive reinsurance form the private carriers (Like Warren Buffet’s company, among other’s). These increases will hurt the Real estate recovery in Florida as rates have been on the rise since Governor Rick Scott has come to office and even before that as well. When our Legislators meet in session soon, this will be a big topic and no National resolution could possibly come that fast. For a National plan to work, we already know that the President (Obama) must endorse the program for any hope and that is not likely as about 20 states have no interest at all to help the other’s. Please read the article below and please call L & S Insurance at 1-888-244-7400 for all quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.
http://www.insurancejournal.com/news/southeast/2013/01/18/277912.htm
