Storm in the Gulf!

Rich Z said:

That used to be true, but no longer. Did you know that most (if not all) of the insurance companies have spun off Florida into it's own separate insurance company? i.e., State Farm Florida, and Allstate Florida, etc.? That's so that each of those companies can go bankrupt and it won't touch the main company.

Pretty nifty of them, eh? "Good hands" and all that stuff........... :thumbsdown:

Click to expand...

Yeah..."like a good neighbor...State farm is....whoa! What! Where'd they go?! ":hehehe:

Yep, I did actually. :thumbsup: I was talking to a friend of mine about a week ago. He's a local insurance agent (who despises the industry as much as I do, but it pays for his toys:rofl1: ). He's the SAR coordinator for our local 4WD organization.

Basically what has happened, is they (insurance companies) have as you said, separated Florida from the main company, and into subsidiaries. They can then claim huge "losses" in Florida while keeping the main company well into the black. It's a shady tactic at best, but apparently, perfectly legal Our insurance commisioner has no, well, I'll refrain from comment, but lets say they do little to prevent the companies from running roughshod over the citizens.

You're absolutely correct on your statement.:thumbsup:

Personally I don't understand how insurance companies get away with all the crap they do. It is against state and federal law to discriminate in any fashion against people based on age, sex, nationality, race, etc., etc. and they do it as a matter of course. If my health insurance goes up because I am older, then they is discrimination based on age. When I was looking for health insurance when I became self employed, my rates would be based on WHERE I lived, which is via demographics, which is a backdoor way of determining my race. And of course, different rates apply depending on what sex you are. This is in blatant violation of the law, yet they get away with it.

They keep getting people pissed off now with the other stuff and their are going to have a class action suit filed against them that would make the tobacco industry lawsuit look like a small claims case!

Rich,

They get away with it because thier lobby is active and contributes huge amounts of $$ to the political campaigns of the Governor and everyone that can even remotely effect thier business.

Aside from being a huge lobby, they happen to be one of the biggest businesses in the world.

I too would LOVE to see a major class action suit against the industry, but I wouldn't hold my breath

Heck, they couldn't afford to NOT settle the case. No way they could win it. Not unless the judge and jury have been drugged senseless, of course.