They’re doing it again. This will be the third time that I’m aware of where Florida pays brand new start up insurance companies to take over existing policies. On top of the already collected premiums, the state tosses in a $3,000 bonus.
Works great; local pols and county club buddies get rich, pay out a few claims grudgingly, got richer, prepared for the next big disaster, did I mention that they kept getting rich, well, they did and then like clockwork the disaster happens. As these fly-away companies scramble to put into place their disaster plans, they continue to answer phones and start the claim process while the company’s money mysteriously disappears and the company declares bankruptcy and the state of Florida takes responsibility to pay the claims.
Nothing in the article indicates that this is being played out as it has in the past, but how else does state senator joe gruters guarantee a 165% return?
https://www.newsweek.com/florida-homeow ... rs-1839091
“However, some see the situation as an investment opportunity. One of those is Republican state Senator Joe Gruters, the Miami Herald reported, who pitched an idea for a new homeowners insurance company to colleagues with a promise of a 165 percent return on investments over the next five years.“
Trump: “We had the safest border in the history of our country - or at least recorded history. I guess maybe a thousand years ago it was even better.”