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9/22/2017 12:11:25 AM
Posted: 8/31/2005 7:17:21 PM EDT
My wife is an underwriter for Nationwide Insurance. She came home from work today and showed me a letter from one of the VP's. Nationwide will no longer be writing homeowners policies in the coastal areas of Florida. They will not renew policies in those areas as well. They will continue coverage for some of the inland areas for now. The letter cited financial loses in Florida over the last few years.
Link Posted: 8/31/2005 7:18:07 PM EDT
That's been news now for a while, even on the local AM radio talk shows.
Link Posted: 8/31/2005 7:19:33 PM EDT
No matter how badly they try to portray insurance companies as caring compassionate entities that want to help.....is bullshit...they are companies for profit.
Link Posted: 8/31/2005 7:19:41 PM EDT
State Farm did it to Texas a few years ago.
Now they are back
Link Posted: 8/31/2005 7:21:19 PM EDT
Oh no, you mean they are not on my side anymore>
Link Posted: 8/31/2005 7:22:24 PM EDT
All I know is that I've never been in good hands, and I don't have good neighbors.
Link Posted: 8/31/2005 7:22:39 PM EDT
Thats been the plan for at least three months now, unless I'm thinking of Allstate. Right now there are several companies that are going to discontinue writing policies in Fl. Joe
Link Posted: 8/31/2005 7:30:15 PM EDT

Originally Posted By mjohn3006:
No matter how badly they try to portray insurance companies as caring compassionate entities that want to help.....is bullshit...they are companies for profit.



So tell us, would you keep pooring dollar after dollar into some stupid state when the people keep rebuilding and getting the same think done to them time and time again.

Why should nationwide keep losing money and throwing it away.

Yes they are a business, but you would do the same damn thing.
Link Posted: 8/31/2005 7:32:49 PM EDT

Originally Posted By Dace:

Originally Posted By mjohn3006:
No matter how badly they try to portray insurance companies as caring compassionate entities that want to help.....is bullshit...they are companies for profit.



So tell us, would you keep pooring dollar after dollar into some stupid state when the people keep rebuilding and getting the same think done to them time and time again.

Why should nationwide keep losing money and throwing it away.

Yes they are a business, but you would do the same damn thing.



Um. Thats exactly what I am saying. You mistook me. I am not saying they are evil for doing it, I am saying that people have a way wrong impression of insurance companies. They are a business, nothing more.

Your right, I would do the same damn thing.

Its still sucks though. But I don't blame them.
Link Posted: 8/31/2005 7:40:32 PM EDT
Can't really say I'm surprised, they were the first to dump queers when the AIDS crisis came to a head.
Link Posted: 8/31/2005 7:46:13 PM EDT
So they'll change their name to "Almost Nationwide?"

HH
Link Posted: 8/31/2005 7:55:12 PM EDT
Can't they just modify their actuarial tables to account for the ridiculous cost of rebuilding places that have a good chance of being hit by a hurricane? They should offer the insurance, and it should have a realistic cost. If nobody buys it, c'est la vie.
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