Scott Questions Citizens Insurance Policy

TALLAHASSEE (CBSMiami.com) – Governor Rick Scott has made no secret of his disdain for Citizens Insurance.

Tuesday, he asked the insurer why the state-backed company was offering coverage to people who build new homes near the beach.

According to the News Service of Florida, Citizens makes it possible for homeowner to build near the ocean, but by offering coverage to the new homes; they increase the systemic risk for all homeowner’s insurance policyholders.

“If someone is going to build a new home, does it make sense for an existing citizen of the state basically to subsidize their property insurance?” Scott asked, according to the NSF. “If someone wants to build a home in an area where it is difficult or impossible to get insurance, should we be subsidizing that?”

Citizens can make some adjustments without the state legislature, but such moves only produce minor savings to the large state-backed fund.

But in a state and federal election year, the state legislature may be very reluctant to make any significant changes to Citizens Insurance, which is the only insurance available to many Floridians.

Comments

One Comment

  1. IhateRicky Scott says:

    He’s just upset that he doesn’t have any shares in Citizens and he doesn’t own an Insurance Company. Please leave our state Gov. MaxHeadroom

    1. Sandtra Davis says:

      Get a grip and stop whining. He inherited a bucket of poop. So join the rest of us and do what it takes to straighten it all out.

  2. Sandra Davis says:

    Anyone building on or near the coast or other catastrophy areas should be required to be self insured and not a burden on the rest of the citizens, period. That is what keeps driving up the rates for everyone else. My home built in 1958 has never suffered storm related damage and yet my insurance has quadrupled and then some. These houses were built stronger that what has been built since and yet insurance companies won’t touch them. Only Citizens and they have us by the short hairs.

    1. RANDRAND says:

      THE POWERS THAT BE LOVE IT WHEN THEY GIVE YOU ONLY ONE OPTION-OR KICK YOUR ARSE TO THE CURB TOTALLY-MARGINALIZING YOU AS A NON-FACTOR IN ANY POLL! IT WILL GET WORSE AND WORSE AS THE SERVICES ALLLL DWINDLE INTO THE OZONE’S! GOT REVOLUTION?!!_____

  3. Tina says:

    Funny enough, didn’t 2005 show you that ALL of our state is vulnerable to Hurricane and other windstorm damage? How short your memory is! Who decided that US 1 is the dividing line between risk and no risk. Who allowed the private insurers to dump “risky” areas and still write the gravy policies such as life, health and auto? Why shouldn’t they be REQUIRED to also write homeowners? Homeowners were given no choice but to go with Citizens and it is NOT cheap insurance. I garee that Citizens should not have to bear the burden alone…perhaps they should be allowed to compete in the other types of insurance…then listen to the screaming of private insurers!

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