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Reply to "RIP Florida real estate "
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[quote=Anonymous][quote=Anonymous]This could be fixed with state legislation. Despite what people want to believe that this is driven by climate change, the insurance companies themselves point to Florida's tort laws as the issue. https://www.axios.com/local/miami/2022/10/03/florida-property-insurance-crisis-litigation This will be resolved within a few years. They've already passed some new laws to stop all the fraud and lawsuits, and have signaled an intention to keep tightening until the insurance companies come back. [/quote] The insurance companies in Texas argued the exact same thing in the late 90's and finally got their laws passed. Insurance rates didn't go down as promised until the TX Insurance Commissioner threatened legislation against the insurance companies to bring down the rates. Magically, rates went down. This is a lie by the insurance companies because they don't like their profits being cut into. [/quote]
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