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Crist lashes out at insurance industry

Gov. Charlie Crist today suggested that insurance companies may be working in concert together to thwart insurance reforms passed last January and he said he's ordered lawyers in the governor's office to investigate whether or not that could be happening.

Insurance Commissioner Kevin McCarty also expressed frustration at the fact that companies are not filing rate decreases as was originally forecast by analysts. McCarty said his office intended to vigorously examine all rate filings - pointing out for example that the Office of Insurance Regulation on Monday had directed State Farm to file new filings that show an additional four to five percent decrease on top of the 7 percent decrease the company showed. McCarty also said that OIR has sent out subpoenas to State Farm executives asking them to show up at a hearing to explain why they decided to drop 50,000 coastal policyholders.

But Chief Financial Officer Alex Sink told Crist and her fellow Cabinet members that if insurance companies do not pass on savings to consumers as predicted then the Legislature should go back and remove the extra risk in the Hurricane Catastrophe Fund that the state assumed as a way to lower rates. Sink also said she wants to question the experts hired by OIR and the Legislature who had predicted the average 24-26 percent rate decrease in the first place.


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Charlie Crist is truly the people's Governor and is making sure that these BIG INSURANCE companies are not steam rolling the people of the State of Florida.

I wish I could say the same about Rep. Marco Rubio, Rep. Ellyn Bogdanoff, Rep. David Rivera and others.

Floridian for less insurance welfare

It's refreshing to have a Governor and especially and insurance comissioner who will actually take the peoples' side against the hugely powerful insurance industry that perenially distorts the truth while racking up huge profits, then buys key legislators to thwart anything that actually benefits anyone but the carriers. With a little light on the subject the voters might smarten up - a sobering thought for folks like Marco Rubio and his minion Elyn Bogdanoff who seem to represent State Farn more than their constituancies. PIP is a litmus test - it benefits people who otherwise would be at the mercy of the carriers to try to obtain relief in the tort system. The complaints of rampant fraud and excessive litigation mask the truth - fraud can be stopped with enforcement and litigation is caused by the carriers refusal to pay legitimate claims. After all, the only way to get attorneys fees from a carrier in PIP is for the carrier to wrongfully fail to pay a legitimate claim. The answer isn't to limit attorneys fees payable by bullying insurance companies, its for those same companies to pay legitimate claims in the first place.

So the answer is, there's no problem with PIP? Say it isn't so. You can't honestly believe that.

watchinit

Charlie is either a liar or a buffoon. We know his trouble passing the bar. It is now obvious he knows little about economics,finance or basic math.
I say if he bankrupts Florida he gets a jail term just like the Enron guys.
McCarty is just trying to keep his job.These guys need to relax and get some time to chill.
How about Charlie and Kevin vs Fasano and Bob Allen in a skins game at the Country Club. Probably help them all clear their heads. Chasing the little white ball can be theraputic. The two legislators may have to get strokes though. I hear Allen has a history of choking when it comes to his putting game.

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