Oh! This Is Great News!
The past year has not been very successful for most of us in the real estate business. It has been just as bad for those in real estate-related businesses like mortgages, title insurance, construction, property inspection, development, furniture sales -- you name it.
Ah, but the insurance industry has done real well. According to info published in the St. Petersburg Times today (Jan. 3, 2008), Florida's insurance industry posted net income of $3.4-billon dollars. In case you want to see that written out, it would be $3,400,000,000. That's a net profit of $283-million per month, or about $9.4-million per day if I did the math correctly.
And yet insurance executives keep asking for rate hikes and keep dropping policy holders to reduce their exposure to possible homeowner claims.
Remember this, folks: I keep writing about the four stars that are out of alignment and how they are causing any real estate recovery to be long and slow. Insurance is one of those stars. This is an example of what's wrong with their star's position.
For more information on real estate in the Tampa Bay area, please visit my website at http://www.thestpeterealestatesite.com/.
Ah, but the insurance industry has done real well. According to info published in the St. Petersburg Times today (Jan. 3, 2008), Florida's insurance industry posted net income of $3.4-billon dollars. In case you want to see that written out, it would be $3,400,000,000. That's a net profit of $283-million per month, or about $9.4-million per day if I did the math correctly.
And yet insurance executives keep asking for rate hikes and keep dropping policy holders to reduce their exposure to possible homeowner claims.
Remember this, folks: I keep writing about the four stars that are out of alignment and how they are causing any real estate recovery to be long and slow. Insurance is one of those stars. This is an example of what's wrong with their star's position.
For more information on real estate in the Tampa Bay area, please visit my website at http://www.thestpeterealestatesite.com/.
-30-
posted by Terry Ward at 4:51 AM
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