Folks disappointed would be the word that describes my reaction to Becky Mowbray’s story that appeared in today’s T-P under the lede New Orleans area deserves better insurance options. I’ll be so bold and suggest that Becky contact Paige St John at the Herald Tribune and Karen Clark, founder of AIR Worldwide because that story in today’s paper was a stinker on several levels IMHO.
The public outreach and education never ends folks. 😉
Speaking on behalf of a blog that cut its teeth on the very issues of offshore reinsurance and insurance finance we could not be more proud to not only have been a cumulative part of the conversation but also able to call Paige St John a true friend to the Slabbed Nation in every sense of the word. Now we know why everyone was interested in our post on Paige’s work, which otherwise flew under the radar but has also influenced an entire community of professional journalists. The long and short of it folks is that insurance finance and following the money to Bermuda is no longer the journalistic back water former National Underwriter Editor in Chief Sam Friedman once knew. For our part we’ve been featuring Paige and her work since the earliest days of Slabbed.
Paige is part of a select group of reporters that have been wise enough to use this blog and the expertise of an entire community of knowledgable insiders like Mr CLS on Yahoo Allstate to advance society’s knowledge for a greater good. I speak for all of us in this community of bloggers in saying CONGRATULATIONS PAIGE ~ YOU GO GIRL!!
Say “model” this time of year and even SLABBED’s most faithful readers are more likely to think “Sports Illustrated” than “hurricane”. On looks alone, there’s no doubt which of the two models has the most immediate impact. Long-term impact, however, is a different matter. The new hurricane risk models will be reflected in the availability and cost of insurance coverage for years to come while SI models change from year-to-year.
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.