Replies to post #101177 on Savvy Trades and Investments

[nelson1234]

UIHC is getting out of FL, and probably going out of Biz soon, FNHC is also dumping FL, and it looks like they are going out of biz, HRTG is in deep shit, they are in trouble... will probably have to lower FL policy count even more than what they have due to not enuf net cash reserves, and another bad year may drop them; UVE takes a big hit but can survive; same with HCI... but both will net drop their FL policies. And believe it or not, these guys are some of the biggest carriers in FL... I think UVE Is the biggest.

Reinsurance rates will probably go up dramatically this year.. they are going to have to give 'surviving ' insurance carriers huge rate increases for them to survive and issue policies... to account for the reinsurance rate increase; and the fact that insurers are dying under current rates. Every one of them,and this was prior to Ian, had stated that they are reducing their Florida policy count. So the state run insurer, Citizens, must be growing dramatically, taking on the worst policies in the state.

Florida is the worst run state for insurance. The whole AOB thing is still hurting prop and cas insurers for the benefit of Lawyers and contractors in spite of the FL state assembly changing laws three times to try and make it better for insurers. They just won't do enuf. Why? Because like 2/3 of these politicians are lawyers and them and their friends benefit from this AOB (assignment of benefit) shite.

[bbotcs]

r59: This will make Florida less attractive as a sanctuary State--that is, a sanctuary from State personal income tax! Property insurance will eat into the savings. It won't matter to the Tom Brady's of the world, butt middle-class peoplemight look for alternatives to Florida--Texas and Tennessee, e.g.