Anonymous
Post 05/31/2023 14:30     Subject: Florida property tax and home insurance
Anonymous wrote:Help me understand why someone living anywhere else should care about Florida's property taxes and insurance? My property taxes go up on average 10% every single year and that's not a national issue. Why are Floridians so special?


This. Their view of high costs and taxes is so incredibly skewed. We pay it all. Income, property, state, federal, municipal. Car tax too! And 6 percent sales tax. On and on.
Anonymous
Post 05/31/2023 14:18     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:Help me understand why someone living anywhere else should care about Florida's property taxes and insurance? My property taxes go up on average 10% every single year and that's not a national issue. Why are Floridians so special?


It's a matter of national interest if the Florida governor is running for president of the US, but not doing anything to address real concerns impacting constituents in his home state. It matters in terms of his competency to govern.

Then don't vote for him.
Anonymous
Post 05/31/2023 14:17     Subject: Florida property tax and home insurance
Anonymous wrote:Help me understand why someone living anywhere else should care about Florida's property taxes and insurance? My property taxes go up on average 10% every single year and that's not a national issue. Why are Floridians so special?


These posters hate DeSantis.
Anonymous
Post 05/31/2023 14:13     Subject: Florida property tax and home insurance
Anonymous wrote:Help me understand why someone living anywhere else should care about Florida's property taxes and insurance? My property taxes go up on average 10% every single year and that's not a national issue. Why are Floridians so special?


It's a matter of national interest if the Florida governor is running for president of the US, but not doing anything to address real concerns impacting constituents in his home state. It matters in terms of his competency to govern.
Anonymous
Post 05/31/2023 14:03     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:It’s not just a Florida issue:
https://www.sfchronicle.com/california-wildfires/article/insurance-state-farm-18125433.php


Insurance risk hasn’t really changed much in the past year in Florida or California. Insurance companies always say they are reducing their insurance exposure because of lawsuits or construction costs or some other nonsense they blame on the states but I worked on this issue as a Congressional staffer and they dropped more policies after the 2008 financial crisis than they did after Katrina.
The profits of an insurance company come more from its investments than from its insurance underwriting. Insurance is a mechanism to create a huge float of reserves that they seek to invest in high-return investment schemes, which often are boom and bust markets like commercial real estate, mortgage backed securities, etc.
When their investments are earning high returns they are willing to expand their insurance business in riskier areas to collect much more premiums to invest. When their investments are losing money they cut their insurance exposure to reduce the amount of capital they are required to hold for paying claims.


That’s probably true for the big companies. But some of the smaller firms seem to be little more than brokers for reinsurance.


Yes, and in those cases the reinsurers are the ones who adjust their exposure and raise their premiums according their investment performance.
Anonymous
Post 05/31/2023 13:52     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:It’s not just a Florida issue:
https://www.sfchronicle.com/california-wildfires/article/insurance-state-farm-18125433.php


Insurance risk hasn’t really changed much in the past year in Florida or California. Insurance companies always say they are reducing their insurance exposure because of lawsuits or construction costs or some other nonsense they blame on the states but I worked on this issue as a Congressional staffer and they dropped more policies after the 2008 financial crisis than they did after Katrina.
The profits of an insurance company come more from its investments than from its insurance underwriting. Insurance is a mechanism to create a huge float of reserves that they seek to invest in high-return investment schemes, which often are boom and bust markets like commercial real estate, mortgage backed securities, etc.
When their investments are earning high returns they are willing to expand their insurance business in riskier areas to collect much more premiums to invest. When their investments are losing money they cut their insurance exposure to reduce the amount of capital they are required to hold for paying claims.


That’s probably true for the big companies. But some of the smaller firms seem to be little more than brokers for reinsurance.
Anonymous
Post 05/31/2023 13:42     Subject: Florida property tax and home insurance
Anonymous wrote:It’s not just a Florida issue:
https://www.sfchronicle.com/california-wildfires/article/insurance-state-farm-18125433.php


Insurance risk hasn’t really changed much in the past year in Florida or California. Insurance companies always say they are reducing their insurance exposure because of lawsuits or construction costs or some other nonsense they blame on the states but I worked on this issue as a Congressional staffer and they dropped more policies after the 2008 financial crisis than they did after Katrina.
The profits of an insurance company come more from its investments than from its insurance underwriting. Insurance is a mechanism to create a huge float of reserves that they seek to invest in high-return investment schemes, which often are boom and bust markets like commercial real estate, mortgage backed securities, etc.
When their investments are earning high returns they are willing to expand their insurance business in riskier areas to collect much more premiums to invest. When their investments are losing money they cut their insurance exposure to reduce the amount of capital they are required to hold for paying claims.
Anonymous
Post 05/31/2023 13:38     Subject: Florida property tax and home insurance
Help me understand why someone living anywhere else should care about Florida's property taxes and insurance? My property taxes go up on average 10% every single year and that's not a national issue. Why are Floridians so special?
Anonymous
Post 05/31/2023 13:22     Subject: Florida property tax and home insurance
In a way, DeSantis has never really been Florida’s governor. His policies are intended to ingratiate himself with national conservatives. That’s why he approved the six-week abortion limit (safety after his reelection) despite its unpopularity in Florida.

Florida is just a stepping stone to a career on the national stage for DeSantis.
Anonymous
Post 05/31/2023 13:18     Subject: Florida property tax and home insurance
It’s not just a Florida issue:
https://www.sfchronicle.com/california-wildfires/article/insurance-state-farm-18125433.php
Anonymous
Post 05/21/2023 09:24     Subject: Florida property tax and home insurance
A very large part of the insurance problem in Florida is the roofing scams. Roofers would circulate around neighborhoods after a big storm, and incentivize roof claims for the homeowner. The number of roofers suing insurers was astronomical. Insurers were dropping Florida homeowners after their roof reached a certain age, causing more problems.

Some laws have been passed, though I’m not sure why it took so long. The insurance lobby would have been leaning hard on fixing these problems. A new law was just passed that is supposed to protect homeowners and insurers. Let’s see if it brings down any costs.
Anonymous
Post 05/21/2023 08:37     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:The insurance problem is a massive issue and perhaps unrealistic to expect DeSantis to solve- basically the market is backing away.

It’s not helped by Florida’s pervasive culture of fraud with insurers.

For their part, insurers have enormous sway in the legislature.

It’s a big problem for Florida.


He is doing less than nothing to try to address it. He isn't even trying.


It's quite difficult to claim that. He's led a number of legislative efforts on the issue.


All those efforts resulted in increased cost.


What bothers me most is, he gets so much coverage (for drummed-up social issues), yet he rarely uses that stage to lobby for action on an issue like this. He’s got everyone’s attention, he should use it more for practical things like skyrocketing insurance rather than stunts that elevate his profile.
Anonymous
Post 05/21/2023 00:44     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:The insurance problem is a massive issue and perhaps unrealistic to expect DeSantis to solve- basically the market is backing away.

It’s not helped by Florida’s pervasive culture of fraud with insurers.

For their part, insurers have enormous sway in the legislature.

It’s a big problem for Florida.


He is doing less than nothing to try to address it. He isn't even trying.


It's quite difficult to claim that. He's led a number of legislative efforts on the issue.


All those efforts resulted in increased cost.
Anonymous
Post 05/20/2023 23:44     Subject: Florida property tax and home insurance
Anonymous wrote:
Anonymous wrote:The insurance problem is a massive issue and perhaps unrealistic to expect DeSantis to solve- basically the market is backing away.

It’s not helped by Florida’s pervasive culture of fraud with insurers.

For their part, insurers have enormous sway in the legislature.

It’s a big problem for Florida.


He is doing less than nothing to try to address it. He isn't even trying.


It's quite difficult to claim that. He's led a number of legislative efforts on the issue.
Anonymous
Post 05/20/2023 23:18     Subject: Florida property tax and home insurance
Anonymous wrote:The insurance problem is a massive issue and perhaps unrealistic to expect DeSantis to solve- basically the market is backing away.

It’s not helped by Florida’s pervasive culture of fraud with insurers.

For their part, insurers have enormous sway in the legislature.

It’s a big problem for Florida.


He is doing less than nothing to try to address it. He isn't even trying.