It makes very little sense to me what Charlie Crist is doing in Florida — putting taxpayers at risk while throwing tantrums — and I’m glad to see Jeb Bush speak out publicly against Crist’s insurance policies, which will only make things worse. Here’s a recent story from the St. Petersburg Times on Bush’s remarks, and here’s an excerpt from the story:
Like other critics — mostly in the insurance industry — of the reforms of early 2007, Bush argued that expanding Florida’s role in the property insurance market will put the state at considerable financial risk if Florida is hit by one or more major hurricanes.
Such solutions "are as bad as the natural disasters themselves," Bush said, adding that "My beloved state of Florida has taken steps along that path."
Without mentioning Gov. Charlie Crist by name, Bush still took aim at the current Republican governor, who inherited the property insurance problem and has all but declared war on State Farm, Allstate, Nationwide and other large insurance companies operating in the state.
The special session legislation championed by Crist will produce "unintended consequences and greater problems in the longer term," Bush said. "The more risk that is concentrated within the public domain, the greater the burden to taxpayers to pay for the cost of rebuilding after a devastating hurricane." Highlights of Bush’s remarks were published on Bestwire, an insurance industry wire service run by A.M. Best.
I disagree with one thing in the story — "has all but declared war." Heck, he signed a declaration of war a long time ago. It wouldn’t surprise me any to see ol’ Charlie Crist come out to a press conference wearing green fatigues, sporting shades and a pistol in his belt and chomping a cigar, talking all about liberation and the running dogs of the capitalist masters, and announce he is seizing the assets of the insurance companies in the name of the people.
UPDATE: Here is the first story that came out on Bush’s remarks, by Ray Lehmann of A.M. Best.