Great breakdown of Florida’s problems after recent storms.
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Windstorm Insurance is a defective product that, due to the financial failures of providers and subsequent restrictions of reinsurance to cover all legitimate claims, is not fit for the purpose that it is marketed for.
It is a broken market that cannot be profitable.
instead, it is more like getting a seat at a casino game and playing by making bets that cannot be covered when the player loses a game.
Florida’s insurance history shows this to be true.
This quote from Blue Oyster Cult’s song Godzilla sums the situation perfectly.
”History shows again and again that Nature points out the folly of men.”
If windstorm insurance was a car it would not be able to be sold.
It’s time to challenge the industry using the federal Magnusson-Moss Warranty Act to end the sham.
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