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Re: For us Floridians and those of you that want to come here...
« Reply #30 on: September 29, 2007, 04:48:55 PM »
Allstate seeks 41% rate hike
Allstate put in a request for rate hikes topping 40%, despite state-sponsored discount reinsurance.
Posted on Sat, Sep. 29, 2007
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BY RANDY DIAMOND
Palm Beach Post

Allstate Floridian Insurance Co. is seeking a 41.9 percent rate hike, an increase that would more than wipe out a 14.2 percent rate cut put into effect June 1 if approved.

Florida's fourth-largest homeowner insurer, which submitted the request to regulators Friday, is the latest in a string of requests to increase rates on homeowners policies. It joins USAA, which wants a 53.9 percent hike and Florida Farm Bureau, which seeks a 30.3 percent increase, as well other insurers seeking mammoth rate increases.

The requests have angered Gov. Charlie Crist and other state legislators. Lawmakers provided $12 billion dollars in discounted reinsurance -- insurance for insurance companies -- to insurers with the understanding they would pass savings on to consumers. The expanded fund was the centerpiece of the state legislature and the governor's homeowner insurance rate reduction plan approved last January.

Ultimately, that risk is passed on to insurance policyholders throughout Florida, who would have to pay surcharges if the fund was forced to pay claims for a major hurricane. The $28 billion fund, known as the Florida Hurricane Catastrophe Fund, has $28 billion in potential liabilities only $2 billion in assets.

All homeowner insurance companies in Florida must make filings with state insurance regulators by Monday showing their final costs of buying reinsurance. As of Friday, the majority of the state's insurers had not filed the ''true-ups,'' as they are called.

Many companies had reduced rates as of June 1 based on preliminary findings of the changes. Those cuts have averaged 12 percent, half of what state officials had predicted.

True up filings, such as the one Allstate filed Friday, threaten to wipe out even those small savings.

Allstate spokesman Adam Shores said the insurer is taking advantage of the state reinsurance fund but says the company still needs additional costly coverage from the global reinsurance marketplace to ensure it can pay claims in the event of a string of major catastrophic hurricanes.

''We want to be in a position to meet our promise for our customers,'' he said.

In its filing with the state, Allstate says it purchased $1.8 billion worth of reinsurance, which it estimated could pay claims for two 1-in-100-year hurricanes.

It was not immediately clear if Allstate had increased reinsurance purchases from last year. Shores could not provide specifics nor could insurance regulators.

The governor's special counsel, Chris Kise, attacked the proposed increase as excessive and unrealistic. ''Not since Noah has there been a castatrophe at the level Allstate is preparing for,'' he told The Miami Herald.

Florida Insurance Commissioner Kevin McCarty, like Crist, has been critical of other insurers who have filed for rate increases, charging that some of them have unnecessarily increased their purchase of reinsurance to drive rates up. McCarty was unavailable Friday.

Jonathan Kees, a spokesman for the state office of insurance regulation questioned the Allstate rate hike. He said regulators will give the filing an in-depth examination to make sure it complies with rate reductions mandated by state lawmakers.

''A 42 percent increase in rates does not appear to be in line with that objective,'' he said.

The increase cannot go into effect without the permission of the state regulators. State law requires a hearing for any increase over 15 percent.

Shores said Allstate Floridian has been under pressure from agencies that rate financial stability. Insurers have purchased additional reinsurance because of the rating agencies' views that insurers are facing increased hurricane risk. They also have questioned the viability of the state's hurricane catastrophe fund to pay claims after a catastrophic storm.

Allstate Floridian has about 300,000 policies. A smaller affiliate, Allstate Floridian Indemnity Co.is asking for 28.3 percent increase. It covers about 100,000 policies and reduced rates in June 13 percent.


shocking!!!

 ::) ::)
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Re: For us Floridians and those of you that want to come here...
« Reply #32 on: October 04, 2007, 11:32:18 AM »
heh my parents are desperately trying to sell a townhome they own in Largo...it's a joke.  they are going to have to rent it.  it's a pretty awful place right now so stay away :)  i dont mind the hurricane threat at all...but it could be because i haven't experienced one yet.  i am anxiously awaiting the "fall" weather.  so over summer and the electric bills.
DON'T GO TO LAW SCHOOL YOU DUMB FUCKS.

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Re: For us Floridians and those of you that want to come here...
« Reply #33 on: October 04, 2007, 11:35:26 AM »
heh my parents are desperately trying to sell a townhome they own in Largo...it's a joke.  they are going to have to rent it.  it's a pretty awful place right now so stay away :)  i dont mind the hurricane threat at all...but it could be because i haven't experienced one yet.  i am anxiously awaiting the "fall" weather.  so over summer and the electric bills.

yes, but will you mind it when it comes time for you to buy a home?
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Re: For us Floridians and those of you that want to come here...
« Reply #35 on: October 05, 2007, 09:18:46 AM »
http://www.sun-sentinel.com/business/sfl-flzmarcia1004nboct04,0,7690890.column?coll=sofla_tab03_layout

Soon human resources managers will be dealing with college graduates who may lack basic life skills, Generation X'ers who are burnt out and have nowhere to go in the work force, and Baby Boomers who don't necessarily want to leave the work force.
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Re: For us Floridians and those of you that want to come here...
« Reply #36 on: October 07, 2007, 08:53:28 PM »
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Re: For us Floridians and those of you that want to come here...
« Reply #37 on: October 11, 2007, 11:11:26 AM »
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Re: For us Floridians and those of you that want to come here...
« Reply #38 on: October 13, 2007, 04:54:56 PM »
http://www.miamiherald.com/news/miami_dade/story/270203.html

As election season intensifies in the City of Progress, incumbent Jose ''Pepe'' Caragol, known for dishing out rhyming one-liners at city events, is catching criticism for a slogan he has been pitching on Spanish television.

``Si te gusta el sexo oral, vote por Caragol por consejal,'' Caragol said on a March 14 taping of the America Te-Ve show Seguro Que Yes! and in subsequent radio and television appearances.

The phrase, which rhymes in Spanish, translates as, ``If you like oral sex, vote Caragol for council.''

Mercy Dominguez, his opponent for the Group 2 seat on the council -- one of four seats up for grabs in the Nov. 6 citywide election -- said that as a mother and a woman she finds the phrase offensive. The risqué comment is one of the main reasons Dominguez decided to run, she said. ''We should expect more out of our elected officials,'' Dominguez said. ``Is this supposed to be the person who is representing the best of Hialeah on the council?''


some people have no sense of humor...
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Re: For us Floridians and those of you that want to come here...
« Reply #39 on: November 28, 2007, 01:56:08 PM »
http://www.miamiherald.com/news/breaking_news/story/323936.html

• If sea level rises 23 inches by 2050, all but six square miles of Monroe County will be swamp and 70 percent of Miami-Dade.

• That means residential real estate, now valued at over $130 billion, will be affected, so will half of Florida's beaches, two nuclear reactors and 99 percent of all mangroves.
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