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saintseester

I don't know, but I am writing my congress people right now. This is price gouging, plain and simple. The insurance industry has much more in reserves than they ever paid out.

Richard P.

The only answer is some sort of national catastrophe fund.

After all, New Orleans is in fact hardly that unique in being in an area vulnerable to natural phenomena.

One day it's going to be Houston or maybe Long Island, not to mention some earthquake-prone area, and then the numbers will likely dwarf Louisiana's.

Kirsty

They are going to KILL this city!! How on earth are you supposed to live here with rises like that??

Dazza just suggested that if these blood suckers had any heart they could have raised every premium in the nation by ONE PENNY to pay for this - and who would object to that nation wide??

This is ridiculous!!!!!!!!
Talk about kicking you when you're down!

liprap

This is certainly pukeworthy. I'll have to save my bile for the next homeowners insurance employee I happen to encounter.

Ray

I would kill for a policy with Farmer's. I can't have one.

wintermute

I had Farmer's. My premium was around $2400 a year. In February, it was set to increase to about $6200, plus the $900 charge for Citizens. The only other available policies were with Republic, and the premium was almost exactly the same - upwards of $6000. So, I switched to Louisiana Citizens, and now am paying $4000 a year plus change.

Farmers is pulling out of this market, plain and simple. They're not doing it by cancelling policies and drawing all that negative PR, however. THey're simply pricing their policies beyond reasonable bounds.

wintermute

I had Farmer's. My premium was around $2400 a year. In February, it was set to increase to about $6200, plus the $900 charge for Citizens. The only other available policies were with Republic, and the premium was almost exactly the same - upwards of $6000. So, I switched to Louisiana Citizens, and now am paying $4000 a year plus change.

Farmers is pulling out of this market, plain and simple. They're not doing it by cancelling policies and drawing all that negative PR, however. THey're simply pricing their policies beyond reasonable bounds.

KamaAina

I've been floating this off and on since those first few frantic weeks after it happened, when I was scribbling down ideas on every scrap of notepaper I could find. Here goes:

We set up an electronic market to sell our risk piecemeal to individual investors around the world. Think of it as Lloyd's of London meets eBay.

If it worked out, we could expand the concept beyond Debrisville, and find ourselves with an honest-to-Pete, large, homegrown company, the kind that could one day anchor an economy that didn't require people to say "How y'all doin' this evening?".

Aaron

Legislation needs to happen, and now. They will effectively destroy the middle class if we can't afford to live here anymore.

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