#Politics #Hurricane #Florida #Milton
From #CNN ... A good article on Citizens, the state-operated "insurer of last resort" here in Florida because most of the private insurers have bailed or charge exorbitant premiums. Our agent signed us up for Citizens in May; it was less than half the quote we received from the private sector.
https://www.cnn.com/2024/10/11/business/citizens-insurance-hurricane-milton/index.html
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@WordsmithFL: Yep. The state-owned insurers are really ultra-thinly-veiled government subsidizers for whatever it is, be it health, life, accident, or property. They essentially have bottomless pockets because, as the article states, losses that would bankrupt a private insurer are merely passed on to taxpayers.