During this year 140 carriers have had rate hikes ranging from 1% to 29% on a state wide average. Whatever the rate hike is, South Florida get’s double the average. Although this is necessary and I agree w/the Ins. Commissioner, why so late????  Why did he agree w/ Governor Christ before and why did he not start pushing the property bill till it was late in the game! My personal feeling is that he is looking to keep his job and no more.  He is a politician and like everyone else, he does not want to get fired. Over the last 3 years rates have fallen by 30-50% across the board and now we head back up, what is wrong w/ this picture. Home owner’s in Florida are upset and the entire system for Home Insurance is in turmoil now and for several years to come. Why did it have to come to this? As if this was not enough, it appeears that Citizens Insurance also needs major rate hikes so when will our Legislature in Tall. get wise and fix the problem before disaster strikes. I guess I ask to many questions, but please read th full artucle below:

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2010/08/florida_insurance_commissioner_6.html

Advertisements