HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Florida and Louisiana are...

Fri May 5, 2023, 08:13 PM

Florida and Louisiana are borrowing hundreds of millions of dollars to cope with hurricane insurance

Florida and Louisiana are borrowing hundreds of millions of dollars to cope with hurricane insurance


In an emergency financial maneuver, the state-chartered insurance associations of Florida and Louisiana have been forced to borrow a combined $1.3 billion to cover insurance claims caused by worsening hurricanes.

The nonprofit insurance associations were already a backstop measure, stepping in after 2022's Hurricane Ian drove insurance companies in the Gulf Coast into failure, causing the cancellation of tens of thousands of homeowners’ policies and leaving millions in unpaid claims.

But those unpaid claims were so high that the associations have had to turn to emergency borrowing of hundreds of millions of dollars at significant interest rates. “We’re currently in the midst of an insurance crisis,” Jim Donelon, Louisiana’s insurance commissioner, said in a news briefing. The crisis is “largely...a result of hurricane activity in our state the last couple of years.”

16 replies, 729 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 16 replies Author Time Post
Reply Florida and Louisiana are borrowing hundreds of millions of dollars to cope with hurricane insurance (Original post)
In It to Win It May 5 OP
TheBlackAdder May 5 #1
Conjuay May 6 #6
TheBlackAdder May 6 #7
CatWoman May 6 #13
GoodRaisin May 6 #15
roamer65 May 6 #8
keithbvadu2 May 5 #2
Chainfire May 5 #3
cachukis May 5 #4
JCMach1 May 6 #12
onethatcares May 6 #5
roamer65 May 6 #9
onethatcares May 6 #10
maxrandb May 6 #11
Mad_Machine76 May 6 #14
NickB79 May 6 #16

Response to In It to Win It (Original post)

Fri May 5, 2023, 08:21 PM

1. You know eventually their malfeasance will cost Blue States, either directly or indirectly.

.

That's how most Red States roll, esp. socialism-sucking moocher states like Florida and Louisiana.

.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TheBlackAdder (Reply #1)

Sat May 6, 2023, 08:16 AM

6. News Flash-

There is no such thing as a blue state or a red state.

It would be nice if you stop playing this, "I'm blue so fuck you!" attitude.

This is stereotyping, and not the attitude that should be brought into this group, or frankly, anywhere.

This is STILL the UNITED States, (believe it or not) and I for one whould appreciate people here not acting like THEM




Reply to this post

Back to top Alert abuse Link here Permalink


Response to Conjuay (Reply #6)

Sat May 6, 2023, 10:20 AM

7. That's bullshit. I live in NJ and we give almost the same as our state budget to Red states.

.

It would be nice to live here without the adjusted poverty level being close to $30K for a single person. While there is some money here, most of the residents are living paycheck to paycheck.

It would be nice to live here and retire, instead of most being forced to relocate because the cost of living is so high. When state workers and teachers retire, they move away and that takes their state pensions with them.

It would be nice to have good roads, nice schools and parks, but instead we give away $25-31 BILLION each and every year to those very states that continue to fuck us over. The one time we asked for money, when Hurricane Sandy hit, we caught shit for it and was met with delays. Imagine living in your state and have the equivalent of your state's budget taken from your local economy each and every year.


There is a Red State and Blue State mentality. Just ask Mitch McConnell and Rand Paul who purposely keep their million residents needing handouts so they can bring home the bacon and justify their jobs. I'm all for helping those in need, but don't fuck us over in the process.

.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TheBlackAdder (Reply #7)

Sat May 6, 2023, 01:42 PM

13. what BladkAdder said

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Conjuay (Reply #6)

Sat May 6, 2023, 05:29 PM

15. There are most certainly blue states and red states, and if you are living

in a red state and being personally victimized by it’s red state government policies you will then surely know it.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to TheBlackAdder (Reply #1)

Sat May 6, 2023, 10:41 AM

8. +1000

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Fri May 5, 2023, 08:29 PM

2. Sounds like socialism, not free market.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Fri May 5, 2023, 08:41 PM

3. And hurricane season is about three weeks away.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Fri May 5, 2023, 08:42 PM

4. The average homeowner in Florida is going to ask why the

increase, without realizing they are paying for the shoreline properties to be rebuilt for the rich.
And many will believe the governor is on it. But when they want to sue the insurance company for not delivering, they will find out the governor chose the insurance company over the homeowner.

The consequences of legislative neglect here, will piss off a lot of people and they will blame whom ever they like least. It won't be those for whom they vote, because they were right by voting for them.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to cachukis (Reply #4)

Sat May 6, 2023, 01:28 PM

12. The will blame Biden. It was all probably planned on Hunter's laptop...

Only slightly exaggerating here.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Sat May 6, 2023, 07:59 AM

5. but there's been special sessions

where this was to be dealt with.

Instead

the legislature spent more time hiding the travel and visitors of a certain governor

Eff the homeowners.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Sat May 6, 2023, 10:43 AM

9. Florida needs to pass an income tax.

EOM.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to roamer65 (Reply #9)

Sat May 6, 2023, 10:47 AM

10. and then get outa the way

of all the noobs rushing up I 95.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Sat May 6, 2023, 12:27 PM

11. But, they hate "The gays", so...

I used to wonder why you sometime will see dogs eating their own vomit, then I saw Retrumplican voters.

Mystery solved!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Sat May 6, 2023, 02:00 PM

14. But

At least women can’t get abortions and Trans kids can’t get gender affirming care.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to In It to Win It (Original post)

Sat May 6, 2023, 05:52 PM

16. Good thing climate change is a hoax

Otherwise it would be stupid to own oceanfront property.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread