Florida’s insurance commissioner, Michael Yaworsky, referred to me yesterday as a Bazooka! As a kid, I pretended to be a bazooka soldier when playing on various military bases where my father was stationed. I am not exactly certain what was meant, and neither did others in my firm when this was raised. He said this during the panel discussion I noted in Panel Discussion on Homeowner’s Property Insurance Cost Drivers. A common definition appears to be:
A bazooka is a portable rocket launcher weapon designed for infantry use, primarily for anti-tank warfare. This shoulder-mounted weapon consists of a smooth-bore steel tube equipped with hand grips, a shoulder rest, trigger mechanism, and sights.
I have favorably noted Yaworsky in Understanding the Implications of the Heritage Market Conduct Study and $1 Million Consent Order Penalty. Compared to the person he replaced, everybody should be elated about that replacement, as noted in Ding Dong the Wicked Insurance Witch Is Dead! Florida’s Insurance Commissioner Resigns, Yaworsky is different. He also has a very difficult job.
In that Ding Dong article, I explained what the previous insurance commissioner allowed to happen and why the current Florida legislature seemed to question why all their constituents are up in arms about claims delays and denials:
After overseeing Florida’s insurance marketplace into oblivion, Altmaier supported the most anti-policyholder legislation in the history of the United States, which changed laws in place for more than 100 years. Altmaier supported raising insurance rates while at the same time eliminating policyholder rights. Florida’s governor, who supported Altmaier, also supported increased premiums and fewer consumer protections by pushing for and signing these new laws this week.
This is exactly what the legislators were complaining about happening today. I told everyone that this was what would happen. People would have higher rates through the roof and not have their claims paid. When I get the video and transcript, I will publish that I was right several years ago, and the insurance lobbyists need to apologize and go away because they cannot be trusted.
I do not understand why anybody is surprised, other than people who believed in or were financially supported by insurance lobbyists and industry executives. Policyholders and common folk lost, and insurance company bigwigs won. Rates have gone up, and people are paid a lot less. It did not take a rocket scientist to figure out this would happen.
The question now is what the current legislature will do about it.
There was a lone policyholder on the panel. He told a similar tale of higher premiums, delayed or denied claims, and non-renewed policies. His testimony was important, and I encourage everybody to tell their story. Participation in our democracy is paramount. I believe it is essential to our way of life. Everyone has an equal voice when everyone participates. I encourage other policyholders to tell their stories of increased and unaffordable premiums with little or nothing to pay after suffering a loss.
Thought For The Day
“Do not wait for leaders; do it alone, person to person.”
—Mother Teresa
