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A Few Bad Apples Spoil the Bunch for Everyone Else

In Florida Property Insurance, Hurricane season, Sarasota on January 11, 2013 at 1:32

Many lawmakers do want to help property owners when it comes to property insurance.  It isn’t always easy.  In Sarasota some rates have skyrocketed, particularly for condo owners.  The Sararota Herald Tribune reports on one condo where rates have tripled.

In 2012 alone, more than 70 applications were filed by insurers for rate hikes.

There’s plenty of blame to share.  Some say it’s another manifestation of the troubled economy.  Some talk about the weather disasters –although it has been years since Florida was hit by a major hurricane.  Others will say it’s the rise in merit less claims, frivolous lawsuits that these claims spurn, and outright fraud that costs insurers so much – and leaves them no choice but to raise rates.  It’s sometimes not an oversimplification to say that a few bad apples spoil the bunch for everyone else.

Homeowners can’t control the economy, or the weather.  But reducing fraud is in our hands.  Fighting frivolous lawsuits brought as a result of dubious claims is what Koch Parafinczuk & Wolf does best.

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