Insurers Charge 300 To 600% More For Coastal Policies
|By Anita Lee, The Sun Herald|
|McClatchy-Tribune Information Services|
Insurance company claims, or losses, as a percentage of premiums paid were 50.68 percent for coastal
When tornadoes that hit inland policyholders in 2011 were removed from the equation, losses averaged 55.25 percent of premiums paid for
"It's been an eye opener,"
less expensive than the rest of the state."
Clarity Act yields numbers
The group is working on a
HHII already managed to push through the
A similar bill has failed to gain traction in
HHII has crunched the numbers in various ways. For example, insurance figures show claims from Hurricane Ivan cost the industry more as a percentage of premiums in five upland counties than they did in
"We really wanted to skewer the (
Virden said it's up to consumers to demand equitable distribution of premiums, along with a
HHII members believe people are under the impression hurricane losses are higher than other claims partly because of all the hurricane coverage on the Weather Channel. But hail, tornadoes and other calamities can be equally or more devastating, they said, as
HHII has so far gathered partners in four states --
HHII was organized through a coalition of churches.
"What we have right now is an insurance industry that is supporting an international investor," said the Rev.
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