The scam artists in the Florida State Legislature have set in motion a Depopulation effort of Citizens Insurance company to supposedly save the State from assuming claims should a hurricane land on our shores. Something we all know it's inevitable as policyholders in state Florida with or without Citizens Insurance. This is because companies like Heritage and Weston Insurance will go belly up when a hurricane hits and the State will have to take them over. The only difference is that these private insurers' shareholders will have taken all the money doled out to them by the State Legislature before the companies collapse. You see Heritage's shareholders are made up of politically well connected campaign contributors. This company like several others have been set up to "help" Citizens depopulate itself from policyholders. Now the Senate in a disingenuous attempt at transparency wants to review the sweat deal provided to Heritage Insurance. If they were really interested in helping out the people of this state they would null and void the Citizens Depopulation effort. That is not to be, so the Senate will hold a sophomoric attempt at theatre they call legislative oversight. This is only happening because people have been flooding the Senators' phones expressing angst at this travesty. However, If the people know what's good for them they would Opt-Out from this sham and then sit back and watch Heritage and their ilk go into bankruptcy where they belong. Unfortunately, the machiavellian Governor and State Legislators have forced Citizens to make the Opt Out procedure counterintuitive in the hopes that people just forget about the Citizens letters that came in the mail. They may very well be successful for the insurers and marketers employ behaviorists to achieve the ends they set forth in their schemes. The unsuspecting property owners will have their homeowners policies assumed by the likes of Heritage and Weston Insurance companies after the 30 day grace period from the assumption date on the letter. These fly-by-night insurers deserve nothing but contempt from the homeowners for they will not exist long after a hurricane hits Florida. Recently the Miami Herald performed an analysis and it reflected that insurers in Florida go under at a rate of 30% as 6 of 18 insurers set up to take Citizens policies have gone bankrupt. This is happening with No Hurricanes so one can only imagine what will happen to the other 12 private insurers once a severe storm aims for our state.
Reference Links:
TALLAHASSEE: Senate to review ‘unique’ $52 million Citizens insurance deal - Business - MiamiHerald.com
OPT OUT: Citizens Insurance under Depopulation in Preparation for Active Hurricane Season
Private Insurers in Florida Failing Despite No Hurricanes!
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