Las Vegas south

Published: Thursday, January 25, 2007 at 6:01 a.m.
Last Modified: Thursday, January 25, 2007 at 12:32 a.m.
''It's a death spiral. If Citizens continues to be cheaper, then more people will ... go into that. But when the wind blows, beware, because they haven't paid enough premiums to cover the claims. We're in uncharted waters.''
Mark Delegal, lobbyist for State Farm insurance, on the Legislature's decision to make the state-created Citizens Property Insurance Corp. cheaper and more widely available.
If only the Legislature could outlaw hurricanes. But never mind, the insurance crisis is solved ... so long as no ill-wind sweeps across the Sunshine State for the next few years. "We're gambling,'' admitted House insurance chair Ron Reagan, R-Bradenton. ''We're saying instead of actuarial sound rates, the state of Florida will guarantee we'll stand behind you.'' Viva Las Vegas, taxpayers.
The Associated Press

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