Florida’s insurance crisis isn’t about ‘woke.’ It’s about state leaders in a stupor | Opinion [Miami Herald]

Upon Farmers Insurance’s announcement that it was pulling out of Florida, Jimmy Patronis, the state’s chief financial officer went right to the heart of the state’s continuing insurance crisis: “The more we learn about Farmers Insurance, the more it’s clear its leadership doesn’t know what they’re doing. While they’re bad at helping people, they’re good at virtue signaling.”

As reported in the Herald, Patronis criticized what he called Farmers’ “ ‘sustainable insurance’ and aligning investments with its social values, like avoiding investing in polluters or companies that sexually or racially discriminate against employees.” The concept is called environmental, social and governance investing — ESG, for short — a political target for Republicans lately.

Basically, Patronis blames Farmers for doing business while incorporating a “woke” ideology, the go-to scapegoat these days, the convenient and facile argument in Gov. Ron DeSantis’ Florida.

We beg to differ.

Whether Farmers Insurance rightly values the principles of ESG is irrelevant here. What’s important is that 100,000 policies in Florida — auto, property — are going belly up.

The wrong excuse

It’s not that the company might be woke; it’s that state lawmakers and the governor were asleep at the wheel as other insurance companies fled Florida long before Farmers.

It’s that lawmakers have been in a stupor as Floridians cried out for relief from soaring property insurance rates.

It’s that those same elected leaders were single-minded zombies who protected insurance companies, not homeowners, during two special sessions.

And yet these are the same legislators who were filled with boundless energy when it came to carrying out Gov. DeSantis’ culture wars in his now-lackluster drive toward to the White House.

Now Patronis, not to be left out, is skirmishing with Farmers. When the Editorial Board asked his office what specifically the insurance company had done in the offending area of ESG, Deputy Chief Financial Officer Frank Collins III doubled down: “While Farmers Insurance is keeping their commitment to the United Nations, they’re dumping 100,000 Florida policyholders; too bad their affection for ESG standards couldn’t stop these Floridians from being dropped.”

Know what else is too bad? That this is Patronis’ politically lame attempt to distract Floridians from the fact that 13 companies have gone insolvent in Florida. Others have stopped writing policies in the state, sending property owners’ premiums soaring into the stratosphere and leaving Citizens as the insurer of last resort for so many property owners. Tim Cerio, Citizens president and CEO, has predicted that the number of policies to reach 1.5 million by the end of the year.

Launch a probe?

And while he was denigrating Farmers, Patronis added he planned to look into complaints against the company, which could trigger a market investigation and — perhaps — fines and fees. This, of course, sounds like a retaliatory move in the same vein as our thin-skinned governor’s costly fight against Disney.

If there truly is something for Patronis to investigate, why did he wait until now to actually do his job? As CFO, the state’s so-called “business manager,” he oversees insurance and consumer services, responding to Floridians on finance-related queries, especially complaints about insurance fraud and related matters.

Interestingly, he found the time this month to tout the launch a new online site: “This morning, we deployed the Florida IRS Transparency Portal where Floridians can submit complaints about individual IRS agents,” Patronis announced on July 13. “We will take this information to look for patterns on how the IRS is targeting Floridians, which will help us craft laws to protect our businesses. We also want to provide the public with a tool where they can report harassment by the IRS.”

His curious use of the militaristic word “deploy” aside, we, too, don’t believe individuals and entities should be targeted by the IRS, especially for their political beliefs, and hope that Floridians across the political spectrum will have equal access to his concern.

But while Patronis is protecting Floridians from the tax collector, he’s among the many state leaders who have left us exposed and vulnerable to the state’s insurance crisis.

“Woke” isn’t the problem; willful neglect is.

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