Tampa Bay Online
Editorial
June 1, 2012
Another hurricane season begins today with the general public still very deeply on the hook to help cover insured losses if a major storm hits Florida.
The state’s Citizens Property Insurance Corporation has $6 billion in the bank but might have to pay $20 billion or more in claims in the wake of one big hurricane. The agency could probably stretch that far with money from the state’s catastrophe fund and market-rate loans, but then what? How could it afford to continue covering 1.5 million customers?…..
To read the full story, go to:
http://www2.tbo.com/news/opinion/2012/jun/01/naopino1-cyclone-of-uncertainty-threatens-entire-s-ar-410305/
