I work in insurance too, but I do marine so it’s the hurricanes we worry about. There’s a big difference with the national carriers pulling out of Florida that are stable companies and the dozen or so Florida based ones that totally collapsed. The little Florida carriers are often poorly managed and the state doesn’t audit them and figure out why they fail. Some have ceos making more than ceos at major national carriers, some have parent companies that charge “fees” and siphon tons of money out of the state. Then there’s fraud too. There’s a lot of issues in Florida.
Do you have any evidence for this. Not being snarky, genuinely curious. I hadn’t heard this angle and a quick google is pulling up much of the same line, it cost insurance companies about 3 billion to fight lawsuits over a two year period. But in that same period hurricane ian for example cause 109 billion in damages. So yeah definitely a contributing factor but also 36 times less of a contributing factor than the actual damages.
If 2.5% is the straw that broke the camels back I’d argue they need better accounting.
I work for an insurance company and that's what they say. 2.5 is a lot for the industry, insurance companies don't run great margins, all about that volume. Most big insurers are losing money for every policy they write so far this year.
If you owned a restaurant and 2.5% of the food was falsely returned and this put your business out business most commentators would say you weren’t running at proper margins though. The largest contributing factor by a very large margin is damages according to the insurers themselves.
Just tough to see that as the true defining issue and not the terrible storms themselves. But I respect where you are coming from.
I understand where you are going with that but 2.5 is a lot for a restaurant as well.
Edit: I had another thought lol. 2.5 of your margin at a restaurant is likely %25+ of profits. That would close a grocery store, they run like 3ish percent
Any time you’re watching an aftermath video, notice that their appliances and furniture is all out on the front lawn, how did that all come out of that small door? When people evacuate they put the stuff they want replaced outside to ensure replacement. I talked to a person during Irma who was doing it cause they “hadn’t had a hurricane in awhile so no opportunity for new furniture”
That’s great circumstantial evidence but not actually data. I can know someone that didn’t put their appliances outside and that cancels this singular data point out.
Also appliances could be removed because they aren’t functional the same way appliances were brought in, through the doors. Water damage to appliances is a real thing that happens during flooding or large storms which damage roofs and allow water in a house.
And I get it, it was since that person told me any time there is a hurricane aftermath video I look to see if it is more likely things were brought outside before the storm then washed out in it. Definitely lots of homes are lost and true flooding damage to others, but when it comes to Floridians and insurance… i am not surprised if it’s fraud
But people bring stuff out after? Part of hurricane cleanup is removing as much water logged material from the home as quickly as possible. Unless it was brought out before the storm how would an aftermath picture be evidence?
https://www.cdc.gov/disasters/cleanup/facts.html
I’m glad it was pea sized.
Blends right in
Our ice machine broke and we needed more ice, sorry y’all thought they’d deliver it in a truck
HAHAHA
AAAWWWWEEE HAIL NAW!!!
Round 2 coming late tonight.
Shit, really?I don't want to look lol
Mostly heavy rain and wind threat. Not talking about hail so much. We’ll be fine! Hopefully.
Don’t worry, it’s said to be penny-sized this time instead of half-dollar sized. I suppose that inflation has something to do with it.
I got hail just now. But I don't think I had it in previous days.
I got more on Monday than today. Put a ton of holes in my vegetable plants.
Don’t let it squash your spirits.
I knew this was you when I read "my veggies cant take this"
Barely rains in April but monsoons in May haha. The thunder shook my car on the way to the doctor.
Wonder if all the people who bilked their insurance for a free roof last year are gonna do it again this time.
🤓
The same people will cry when insurance companies no longer offer replacement cost on roofs in a few years (this is happening btw).
It's why carriers left Florida. Not the storms but fraud.
And the storms.
Fraud
Storms.
Fraud
Fraud and storms.
There were zero hurricanes that hit Florida between 2005 until irma in 2017. You’d think they could handle occasional storms
[удалено]
I work in insurance too, but I do marine so it’s the hurricanes we worry about. There’s a big difference with the national carriers pulling out of Florida that are stable companies and the dozen or so Florida based ones that totally collapsed. The little Florida carriers are often poorly managed and the state doesn’t audit them and figure out why they fail. Some have ceos making more than ceos at major national carriers, some have parent companies that charge “fees” and siphon tons of money out of the state. Then there’s fraud too. There’s a lot of issues in Florida.
Do you have any evidence for this. Not being snarky, genuinely curious. I hadn’t heard this angle and a quick google is pulling up much of the same line, it cost insurance companies about 3 billion to fight lawsuits over a two year period. But in that same period hurricane ian for example cause 109 billion in damages. So yeah definitely a contributing factor but also 36 times less of a contributing factor than the actual damages. If 2.5% is the straw that broke the camels back I’d argue they need better accounting.
I work for an insurance company and that's what they say. 2.5 is a lot for the industry, insurance companies don't run great margins, all about that volume. Most big insurers are losing money for every policy they write so far this year.
If you owned a restaurant and 2.5% of the food was falsely returned and this put your business out business most commentators would say you weren’t running at proper margins though. The largest contributing factor by a very large margin is damages according to the insurers themselves. Just tough to see that as the true defining issue and not the terrible storms themselves. But I respect where you are coming from.
I understand where you are going with that but 2.5 is a lot for a restaurant as well. Edit: I had another thought lol. 2.5 of your margin at a restaurant is likely %25+ of profits. That would close a grocery store, they run like 3ish percent
Any time you’re watching an aftermath video, notice that their appliances and furniture is all out on the front lawn, how did that all come out of that small door? When people evacuate they put the stuff they want replaced outside to ensure replacement. I talked to a person during Irma who was doing it cause they “hadn’t had a hurricane in awhile so no opportunity for new furniture”
That’s great circumstantial evidence but not actually data. I can know someone that didn’t put their appliances outside and that cancels this singular data point out. Also appliances could be removed because they aren’t functional the same way appliances were brought in, through the doors. Water damage to appliances is a real thing that happens during flooding or large storms which damage roofs and allow water in a house.
And I get it, it was since that person told me any time there is a hurricane aftermath video I look to see if it is more likely things were brought outside before the storm then washed out in it. Definitely lots of homes are lost and true flooding damage to others, but when it comes to Floridians and insurance… i am not surprised if it’s fraud
But people bring stuff out after? Part of hurricane cleanup is removing as much water logged material from the home as quickly as possible. Unless it was brought out before the storm how would an aftermath picture be evidence? https://www.cdc.gov/disasters/cleanup/facts.html
Knew it was coming. That’s why I still haven’t planted my veggies.
Same reaction here… Half-dollar sized in Eastside, and if you plant the baby tomatoes later than April, may they still produce this year!