Business Coalition provides advice to resolve the crisis in insurance
A coalition of groups Business Florida revealed a number of principles and order policy recommendations aimed at restoring the competitiveness of the private insurance market in Florida.
The coalition includes a reminder of the political principles of truth with the public on the extent of hurricane risk in Florida and, as the risk of the height of the actual premium savings of legislative proposals:
The Florida Hurricane Crisis Coalition, under the auspices of Associated Industries of Florida, Florida includes members of the economy to speak with one voice for political leaders in the insurance sector.
The Coalition promises to take advantage of guidelines for evaluating their legislation for a particular course of the legislative process next meeting on insurance. The coalition has asked the legislature to concentrate on a limited agenda, mitigation measures to limit the damage caused by the hurricane, a temporary extension of the Florida Hurricane Catastrophe Fund and other options for insurance coverage consumers.
Cecil Pearce, American Insurance Association Vice President, region of South-East, is a member of the board of AIF and served as co-chairman of the Hurricane Insurance Crisis Coalition.
“The members of the business community, where - both personally and professionally - the real need of higher insurance premiums and the lack of capacity in the real estate market Florida,” said Pearce.
“But all understand that if Florida, restoring the competitiveness of the private insurance market, only solutions worth continued in the long-term nature and potentially difficult for all parties concerned. The coalition report recommendations for the next special session on the basis of their guiding principles for reform: to maximize market-based solutions to minimize intrusion and the government. ”
Consistent with its requirement of truth to say, the group should support the Florida said its rate of payments and should not subsidize the rates of insurance, live in areas at high risk, if other insurance is public participation necessary, it does under certain conditions.
The Coalition also calls for participation in disaster management in all corners. “There must be a sense of common responsibility to resolve the crisis of the hurricane. This means that, insurance, owners, insurance agent, insurance companies, citizens, lenders, real estate professionals, governments at all levels, tourism and other officials are in the solution, “said your guidance.
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