Former lawmaker says Crist a risky bet this storm season
by Michael C. Bender | March 15th, 2009
Former state Rep. Don Brown, R-Defuniak Springs, says in a letter in today’s Palm Beach Post that State Farm pulling out of Florida is a sign that that Gov. Charlie Crist’s property insurance plans are “unraveling.”
Those who know the world of finance say that State Farm has the money to pay claims, at least for now. But having been denied a much-needed rate increase, State Farm can’t guarantee that will be the case much longer.
So, going into this hurricane season, are you betting on the governor or State Farm to be able to bring cash to the disaster? If you’re betting on the governor, good luck. You may need a lot of it.
Meanwhile, the editorial board says Crist and the Cabinet made the argument for a national catastrophe fund last week in deciding to push for a federal line of credit to backstop the state’s hurricane catastrophe fund.
Tags: insurance
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March 15th, 2009 at 8:17 pm
Everything in Fla. is unraveling and Charlie’s lack of leadership is to blame. This sums it up: http://www.irreverentview.com/miscellaneous/at-a-private-meeting-in-tallahassee
March 16th, 2009 at 5:59 am
[...] Farm in Calling Crist a “Risky Bet” March 16, 2009 — gatorblue From the Palm Beach Post: Former state Rep. Don Brown, R-Defuniak Springs, says in a letter in today’s Palm Beach [...]
March 16th, 2009 at 6:55 pm
[...] March 16, 2009 — g8rluvr Since my esteemed colleague and fellow blogger is posting one side of the State Farm issue, I’ll show you the other. First, let’s look at State Farm’s Katrina [...]