2 thoughts on “State Farm cancels 125,000 policies in Florida”

  1. Hey, Sop, bet even Carnac would be surprised to see what I just saw over at Huff-Po.

    39 pages of comments on the State Farm story – and it was hours ago that I checked, so probably more now!

    What a reaction to a story that didn’t go up until late last night (2/03/10 @10:58pm with 11:13pm update). One of my favorites:

    “Like a good neighbor, it

  2. I see even Gene chimed in there. The public gets it despite the literally hundreds of millions of dollars the industry spends on advertising and their army of paid shills like Robert Hartwig @ the III or Eli Leherer @ the CEI that spread misinformation, lies and half truths for a fee.

    When you strip away all the bullshit the truth is the private market is equiped to insure only a fraction of the perils we face, yet the industry acts as if there is a functional private market that will cover everything. Insurers as a group want no part of the tail risk associated with earthquakes and hurricanes yet they oppose and stonewall every solution that doesn’t allow them to continue lining their pockets as some sort of government sponsored middleman and/or preserve their offshore reinsurance operations in tax havens like Bermuda.

    You’re right we need a new paradigm, one where people can purchase coverage they can count on when they need it and where they aren’t priced gouged for that coverage by global financial services companies that operate in the shadows in offshore tax havens.


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