Serious allegations of abuse over storm-related expenditures -- such as those under investigation at Hallandale Beach's Parker Plaza condominium -- send a clear signal that we must aggressively pursue a solution to this insurance crisis, even as we prosecute those who try to profit from insurance-related graft and corruption.
Spiraling storm-related insurance premiums put a strain on our communities and compromise the ability of elected volunteer community association leaders to manage them effectively. Such premiums prevent allocation of sums prudent boards should channel to protective measures to reduce the risk of future hurricane damage and tempt international insurers back to Florida.
Skyrocketing insurance premiums, on top of financing, collection and management of huge sums to cover insured and uninsured storm related damages, threaten unnecessarily to fan the flames of contention and spur conflict in even well-governed communities across the state.
This has got to stop and our elected officials must act now if Florida is going to continue to remain attractive for individuals and families seeking secure and affordable lifestyles in our beautiful state
Tags:
Insurance Premiums
Insurance credits
International Insurers
Showing posts with label Nationwide Insurance. Show all posts
Showing posts with label Nationwide Insurance. Show all posts
Friday, January 12, 2007
Nation wide Insurance
State officials should consider capping local government spending from property taxes, according to a report Gilreath has forwarded to commission members. Only after that, should they look at reducing reliance on property taxes using something like an additional sales tax.
Take the example of Nationwide Insurance Co. of Florida's recent proposed increase, submitted in July and revised last month. The company wants to raise rates by an average of 71.4 percent statewide, but is calling for even larger increases in South Florida -- as high as 82.1 percent in Broward and 105.8 percent in Palm Beach County -- where there's a high risk of storms. Other parts of Florida, such as the Panhandle, are facing significant price increases, too, to bring homeowners prices in line with storm risk.
Tags:
Additional sales Tax
State home owners Insurance
Florida's Insurance
Take the example of Nationwide Insurance Co. of Florida's recent proposed increase, submitted in July and revised last month. The company wants to raise rates by an average of 71.4 percent statewide, but is calling for even larger increases in South Florida -- as high as 82.1 percent in Broward and 105.8 percent in Palm Beach County -- where there's a high risk of storms. Other parts of Florida, such as the Panhandle, are facing significant price increases, too, to bring homeowners prices in line with storm risk.
Tags:
Additional sales Tax
State home owners Insurance
Florida's Insurance
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