Protection Plans

The way insurance as a business works fights either an easy or a comprehensive fix that will yield premium stabilization, much less reductions. All roads lead back to policyholders, even the state's protections plans like the Florida Hurricane Catastrophe Fund, Citizens Insurance and the brand new Commercial Property and Casualty Joint Underwriting Authority (CPCJUA), formed as business property insurance availability dries up across the state. The laws creating those plans are only viable because they carry the provision that, in the event the fund is totally expended, all Florida policyholders will be assessed to make up any shortfall.

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Commercial Property
Protection Plans
Premium Stabilization

Higher Premium for Residents.

When several committee members said a house’s age helps determine its premium, Leslie Chapman-Henderson cautioned that it can’t be the only determining factor, either. “We can’t draw a line in the sand,” she said, and decide that houses built before a certain date have to pay higher premiums. Some older houses, she said, were built during decades of heavy storms and are stronger than some newer homes.

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Higher Premiums
Insurance credit
Insurers gain

Difficulty of obtaining Insurance

Higher premiums and the difficulty of obtaining insurance in certain areas only add to residents' worries about a growing property-tax problem. If they have to continually pay higher premiums to cover the higher values of their reassessed homes, many residents interviewed last week said it will only be harder for middle class families to pay to maintain a home in shore communities.

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Higher premiums
Tax Problem
Difficulties of obtaining Insurance