We’re always happy to feature Sup here at Slabbed whenever he gets the urge to author a post. Unlike many in the insurance industry Sup isn’t afraid to engage us and we’re very happy to have his perspective. (Note I’ve “blogified” the text minimally to add the links inline)- sop
Two articles published last week at the New York Times and Tampa Tribune indicate the folks in charge in Florida may have gotten their heads out of the sand. Governor Crist and the Legislature seem to have come to the realization that Citizens Property Insurance Corporation is broke.
What does this mean to the citizens of the state of Florida? It means they will be paying higher insurance premiums and they all must pray the state escapes hurricanes for a few years. “Citizens’ life expectancy in a storm: ‘a few short hours’ “ is stated in the New York Times article. It is clear the politicians and regulators were playing politics with this issue and it has now backfired. What these folks have done is criminal and if they were a private organization they would be prosecuted for the sham.
The second article reflects the Feds are not going to help. This article states by state law the Cat fund should be able to cover up to $29 billion, but state officials say the fund could only cover about $11 billion. Continue reading “The Chickens are Coming Home to Roost in the Sunshine State: A Sup guest post”
Not that I have any inside info but perhaps this has somehting to do with this. IMHO the latter was leaked to obscure the former. There, question answered. I don’t see how the GOP can allow a whore mongering hypocrite to be their 2010 senatorial standard bearer in Louisiana.
And while we’re talking about stuck on stupid I noticed this while noting that the three mouseketeers were beating a hasty retreat.
A beautiful day here – the perfect end for a demanding week – but I’m hopping like the Easter Bunny trying to catch up. With weeds to pull, groceries to buy, and blog posts backed up, I am so very thankful I have no eggs to dye!
One of my catch-up strategies is checking comments that posted during the week. Wright Thompson stopped by, I see. Politics is a sport with an open season, IMO, and since Katrina, Mississippi and Louisiana have co-hosted the Olympics that ESPN hasn’t covered – maybe we’ll see more of Wright.
I also missed the Souths – belle and due – who both stopped by while I was “out”. Would love to see both of them more often. I almost missed the news Main Street has gone Wall Street but a comment from Hal gave me that OMG moment and the link to Communities print their own money to keep cash flowing.
Thanks, Hal! Good to know the “Bunny Bucks” on Main Street have real money behind them – not like that stuff they’ve been printing on Wall that doesn’t even cover the cost of the paper.
To follow up on yesterday’s post on the termination of Ivor van Heerden at LSU Editilla had some killer links over at today’s Ladder. First up is the Katrina surge hindcast:
Continue reading “SLABBED Daily – April 11”