Can we agree that the following statements are true? First, there is valuable real estate in Florida. Second, some of this real estate faces intense flood risk and going forward this flood risk may intensify. Third, insurance companies cannot be asked to lose money. Fourth, there is “no free lunch”.
Other than being a blunt instrument to reduce premiums for homeowners, is there an economic reason HB 809 chooses remaining mortgage balance to calculate the value of the house? On its face, it seems to commit to making the bank whole and the homeowner. Is that a fair assessment?
Other than being a blunt instrument to reduce premiums for homeowners, is there an economic reason HB 809 chooses remaining mortgage balance to calculate the value of the house? On its face, it seems to commit to making the bank whole and the homeowner. Is that a fair assessment?