Fri May 5, 2023, 08:13 PM
In It to Win It (6,439 posts)
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.”
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16 replies, 729 views
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Author | Time | Post |
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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
TheBlackAdder (26,595 posts)
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. . |
Response to TheBlackAdder (Reply #1)
Sat May 6, 2023, 08:16 AM
Conjuay (585 posts)
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 |
Response to Conjuay (Reply #6)
Sat May 6, 2023, 10:20 AM
TheBlackAdder (26,595 posts)
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. . |
Response to TheBlackAdder (Reply #7)
Sat May 6, 2023, 01:42 PM
CatWoman (78,703 posts)
13. what BladkAdder said
Response to Conjuay (Reply #6)
Sat May 6, 2023, 05:29 PM
GoodRaisin (8,197 posts)
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.
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Response to In It to Win It (Original post)
Fri May 5, 2023, 08:29 PM
keithbvadu2 (31,846 posts)
2. Sounds like socialism, not free market.
Response to In It to Win It (Original post)
Fri May 5, 2023, 08:41 PM
Chainfire (13,739 posts)
3. And hurricane season is about three weeks away.
Response to In It to Win It (Original post)
Fri May 5, 2023, 08:42 PM
cachukis (1,309 posts)
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. |
Response to cachukis (Reply #4)
Sat May 6, 2023, 01:28 PM
JCMach1 (27,209 posts)
12. The will blame Biden. It was all probably planned on Hunter's laptop...
Only slightly exaggerating here.
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Response to In It to Win It (Original post)
Sat May 6, 2023, 07:59 AM
onethatcares (15,603 posts)
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. |
Response to In It to Win It (Original post)
Sat May 6, 2023, 10:43 AM
roamer65 (34,970 posts)
9. Florida needs to pass an income tax.
EOM.
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Response to roamer65 (Reply #9)
Sat May 6, 2023, 10:47 AM
onethatcares (15,603 posts)
10. and then get outa the way
of all the noobs rushing up I 95.
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Response to In It to Win It (Original post)
Sat May 6, 2023, 12:27 PM
maxrandb (14,009 posts)
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! |
Response to In It to Win It (Original post)
Sat May 6, 2023, 02:00 PM
Mad_Machine76 (23,809 posts)
14. But
At least women can’t get abortions and Trans kids can’t get gender affirming care.
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Response to In It to Win It (Original post)
Sat May 6, 2023, 05:52 PM
NickB79 (18,038 posts)
16. Good thing climate change is a hoax
Otherwise it would be stupid to own oceanfront property.
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