New Florida property insurance company picks up nearly 200,000 homeowners from insolvent companies
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- Опубликовано: 23 фев 2023
- Full Story: wfts.tv/3SrNGbu
United Property & Casualty Insurance (UPC) is in the last three years, meaning they don't have enough funding to cover existing policies. As a result, the Florida Office of Insurance Regulation (OIR) declared the company insolvent last week. In such a volatile market, it's hard to imagine anyone would want to start a property insurance company in Florida, but a new company in Tampa has already become one of the bigger providers, taking on nearly 200,000 policies from companies going under.
The new company comes in, takes everybody’s policy money, and as soon as the big storm hit, they filed bankruptcy and run away with the money.
DEATHSATIN sucks
Yep, they make large profits for years when there are no storms, make homeowners jump through hoops to stay insured while jacking up rates, but the moment it comes time to pay out they suddenly they're broke.
Probably the same company, just rebranded.
They do not have to file bankruptcy. They can flee the state anytime they want.
Ron knows how to let companies scam the magots 😁
I’d steer clear of Slide! They took over our homeowner’s insurance when St. John dissolved. They want to increase our annual premium by 131%!!! BS! FL homeowner’s insurance is such a racket, it’s nauseating!
Karma couldn't have happened to a more deserving state. Because don't worry, you got the trans swimmer issue under control. You know. . .important issues to Conservatives.
@@cstuartdc thanks, that makes me feel a lot better. FL is pretty f’ed up in a lot of ways. The Karma should not be directed at all of us, however.
@@davidjohncox7333 No, I suppose karma would be directed at me, for making that sarcastic comment. I just simply don't know how to reach Conservatives on their behavior being off the wall. They are truly like the autistic kid climbing the walls and acting in a deviant manner.
@@davidjohncox7333hey it's going to be rough out there. Cost of construction has gone up , a industry that depended on undocumented immigrants to have lower labor cost and overall cost is now going to bite these construction and contractors in the butt and ultimately the property owner. Increased flooding and damages from hurricanes->> increased cost from contractors to replace/replace property damage--> increased payout from insurance company --->> insurance company goes bankrupt-->> new insurance company pops up--->> repeat ad nauseam. It's a crazy cycle and the reason why insurance are just pulling out completely and the ones who do try to operate will have to suffer the burden for all with increased premiums. If Florida government was a insurance company, the state would of been bankrupt and need a bail out from other states and fed gov. I wish y'all the best but I think government intervention is going to be needed
Once you pay off your house, you can tell them to go pound sand if you'd like. Still would get a $300/year liability policy and self insure for the rest.
Isn't this supposed to be Ron's priority in fixing the problem in FL?
It’s not that easy. Can Ron control the weather?
@@CN45475 Ron can dictate anything and it will happen.
He’s owning the libs that’s all we want in the free state of florida
He's too busy meddling with identity politics and attacking Disney
@@inwiththenew414 Don't forget setting up the Sheriff Polk show for all his grandfatherly advice on how to become less of a civilian and more military.
This is just the beginning, if you don’t have insurance, property values decrease and chances to sale your house gone …
Not true.
@@fauxque5057 well is my opinion nevertheless explain why insurance companies are leaving Florida ? So residents have few choices to insurance their properties…
SOMEONE ELSE ALWAYS PAYS THE BILL
How do any stay in business in an area that gets blown flat every five years?
lol yeah nothing suspicious about this at all
But Ron is smiling 😁
Citizens Insurance are sending letters to homeowners stating that if they do not opt out, then their insurance will be three to five times more with Slide.
Whaaa wha. Same thing happened in MA years ago. We all survived
Rs prefer culture wars to solving real issues,
BUY CASH NO INSURANCE
This is a charade, none of these so called new companies would be allowed in any other state due to capital requirements ....but in FL they are welcomed
Yup!!! These actuaries, executive and , business leaders know damm well they do not have enough funding or reserves to handle Florida. It's part of their business plan to skim what they can during the 5-10 years and file bankruptcy or get bought out by a bigger insurance to hedge the risk on their balance sheet. Problem is, even the bigger insurance are unable to cover Florida's risk. Florida's damages are wiping out insurance companies left and right, some companies lose all their profit they gained in 5 years after one big storm.
But…but..Florida is where woke goes to die?! I don’t get it…
Easier to steal sleeping morons cash!!
Your roof and windows will die before woke gets to you. Thanks, Ronnie. You're a meatball.
One insurance company goes under, taking the money, and another picks up the profitable clients.
That's capitalistic. Using tax-payers money to help bail them out is socialist spending for business, not people.
Florida is cannibalizing every insurance company that tried to underwrite policies due to the storms. most states have a guarantee fund for these situations but this is above the insurance companies, Florida gov. Has to step in.
LoL take money, don't pay out any claims, go hide , where have I heard this before,
If you choose to live in the Florida swamp don't complain when things go to sht
You do realize most of Florida isn't a swamp?
@@jesusisdead largest North American swamp
@half-breed it's a big state. You can't compare it to Louisiana or another state. I don't live in a swamp. I don't even live in a flood zone. I don't even have hardly any trees on my property. I saw more damage to homes in Louisiana. The problem is cheap buildings and trailer parks, and like she said, insurance fraud. My house went through Ian and had very little damage. I have a metal roof. Theres no excuse to kill people with these high rates. They weren't high before so why are they high now. Hurricanes weren't just invented
@@jesusisdead yeah that's what you boy meatball has done for florida. High insurance if you can get it at all, 9% inflation, soaring property tax...... Florida voted for it so stop your whining
Nothing says professionalism like wearing sneakers.
Lol. We have dudes flashing manboobs at the Whitehouse, and a Senator who shows up for work in a hoodie and shorts, and some dudes sneakers bothers you?
They’re probably very overpriced sneakers.