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Some Blog I Wrote

stuff i think about and then type on a keyboard

Wednesday, May 18, 2005

Let The Floridian Beware

Allstate recently announced they will gradually discontinue 16,000 commercial policies and will not renew roughly 95,000 policies in Florida, which will be passed along to Universal Insurance. In addition, Allstate Floridian will raise insurance premiums to pay for a two-year $1.6 billion reinsurance program. The company began cutting back new policy sales last fall.

Last summer, the state was hit with four hurricanes within a two-month period, resulting in "substantial" losses to the company. How many hurricanes will pass through Florida before insurance companies try to drop the state altogether? Will our nation's more fortunate elderly be forced to join all the others in Arizona or Nevada? Please don't tell me Andrew Jackson's murder spree was for naught.

Posted by GiromiDe @ 7:15 PM
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