WHATS THE CURE FOR AN AILING PROPERTY INSURANCE SYSTEM?
South Florida, we have a problem. A hurricane hasn’t hit the region the last three years, but there’s a huge storm brewing (again) over property insurance. Big firms like State Farm and Allstate are cutting and running, saying their property insurance lines aren’t profitable. But they keep making google_ad_client = ‘pub-2905054723170537’; // substitute your client_id (pub-number) google_ad_channel = ‘6331884817’; google_ad_output = ‘js’; google_max_num_ads = ‘3’; google_ad_type = ‘text’; google_feedback = ‘on’; plenty with their lucrative auto and life policies. Homeowners don’t know if smaller firms that have sprouted in recent years will prove reliable in the face of disaster. And state-run Citizens, the so-called insurer of last resort that has become the only choice for many South Floridians, might boost rates again starting next year after a three-year freeze. Add it all up and we have a property insurance system that seems as sick as our health insurance system. Our predicament:
