Paige St. John and the Herald-Tribune nail the insurance industry!

"How State Farm cashed in on a crisis" Herald-Tribune

For five years, Floridians have struggled to fix the state’s property insurance system, ricocheting between attempts to appease the industry and punish it. They’ve seen premiums rise as much as 350 percent on the coast and witnessed the cancellation of 2 million policies. Thousands of homeowners now can only find insurance from a state pool that many believe could not pay its bills after a major hurricane.

Despite no hurricanes in five years, Florida insurers are demanding yet more money from homeowners. At the same time, the capital that insurers have on hand to pay claims has shrunk.

Investigative reporter Paige St. John took the lead as “the Herald-Tribune spent more than a year examining the Florida insurance market in an attempt to find out why”. The resulting stories and interactive applications are a must read.

The interactive application (below the jump) will make the time pass quickly on this cold and dreary Sunday.

4 thoughts on “Paige St. John and the Herald-Tribune nail the insurance industry!”

  1. “HOW STATE FARM CASHED IN ON A CRISIS”….WAS THAT THE HEADLINE?

    P L E A S E……If we’re going to name names and professions about people and entities cashing in on a “crisis” (more appropriately COMPLETE AND UTTER DEVASTATION, DEATHS, TRAGEDIES, ETC.).

    …..and this is a newspaper’s caption/title? No doubt Freedom of the Press kicking in here, but let’s put it in perspective. STATE FARM PAID AND PAID AND PAID….JUST NOT THE RIGHT PEOPLE IN ALL INSTANCES.

    SHIRLEY HEFLIN

  2. Read the articles. State Farm did not pay what they owed and they dropped policies that they then secretly covered as a reinsurance partner at rates as much as ten times higher than the expected losses.

    Sounds like you have been drinking the Industry’s Kool Aid.

  3. No body has the right to sit there on their laptops and complain about this article it was very well written I think newspapers are here to get information leaked to the people of the United States and that’s exactlty what this article is doing. I’m writting this comment with my AP history class in pre-college and we all agree that we would much rather hear about how we and our parents are being treated by the insurance industries and what the insurance industries are hiding. Other than the new dogy couture botique that just oppened up down the street.
    You get what I’m talking about?

  4. i’m glad you wrote about this article.. more people need to read this and understand what is going on so that when their insurance bill increases, they can thank their legislators for not taking the time to see what is really going on.

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