Quote:
Originally posted by Cleo@Sep 27 2004, 04:18 AM
I don't see how the insurance companies will survive this.
My Windstorm is with the state's high risk pool but my homeowners is out of Orlando and their offices were destroyed in the first one and their temporary offices were destroyed in the second one. I would imagine that their financials have also been destroyed somewhere around hurricane two or three or four.
Just think only six more weeks of hurricane season to go.
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Cleo...
The good thing is that federal law provides Florida with some great Insurance companies (even if some of the policies are exhorborantly priced).
Gary used to work for AIG on Wall Street when he was younger and he was telling me a couple of weeks ago how insurance companies are told they have a certain amount of homes in Florida that they
HAVE to insure if they want to do business here.
Something about homestead (?) i think he mentioned.
Hell, mom+dad have only had their insurance policy about 21 days now after their last company went belly up and they have already filed 3 claims
Of course their premiums and deductables are going to be sky high after the storm season ends
Regards,
Lee