[1123581321]

Your tone suggests strong disagreement but I’m not seeing much other than what is the difference between a one-time backstop by public money prior to an insurer exiting the market, and an ongoing public insurer with unlimited obligations.

The question, as you put it, is how and where Floridians should be encouraged to build since home insurance doesn’t work in major disasters.

[mlinhares]

The issue is that if it becomes a government fund the insurers can't spend the money in the year when we didn't have destructive hurricanes, which is what they usually do.

The government would keep the money in the fund indefinitely until it was needed and would't be spending it.

[1123581321]

That is not something that's happening; surplus is tightly regulated now in Florida. Plus, reinsurers will not let insurers steal money that's meant to cover losses. It's cheaper for Florida to tweak the dials of surplus regulation than to become an insurance company because it would encourage loss-making behavior.