[StBernard] Louisiana Blanco Threatens Bet On Florida InsuranceModel

[Westley Annis]

1st incorrect statement:
"Basically, Florida's governmental leaders walked into the
weather "casino" and bet $40 billion or more on red.  If the hurricane winds
blow, they will be incapable of paying off the losses without massive
assessments on almost every insurance policy in Florida and perhaps
significant tax increases on top of that."

I fail to see what is so different from how Florida lawmakers are going
about this how any insurance carrier runs its business and the risks it
takes.  Are you saying if private insurance providers take a hard hit (and
go into the "red") they're not going to raise their rates to compensate for
their losses?  Got news for ya...they already did in Florida.  I fail to see
the difference.

2nd incorrect statement:
"If that happens, almost all forms of insurance in Florida will increase
drastically in cost, and the fiscal
stability of the state will be called into question."

Clearly, the author of this article knows little to nothing about the
Florida economy and the fiscal stabilty of the state.  Like the days when
Louisiana was rich in oil and gas revenue and couldn't overspend if it
tried, Mickey, Minnie, Pluto and friends pump billions (yes, with a "b")
into the Florida economy (and state treasury), of which the fiscal stability
of the state rests, and there's no sign of that slowing in growth.  And, if
it somehow gave the slightest scare that it could - no problem, they'll just
add a few pennies more tax to each ticket when the rest of us go to visit
Mickey and friends.

- John Scurich