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Polling Data Demonstrates Public Support For Long-Term, Market-Based Property Insurance Solutions

Source: Property Casualty Insurers Association of America

Posted on 13 Aug 2010

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Polling data reveals that the majority of Florida voters understand that long term property insurance stability is a public policy goal of the utmost importance. According to the Florida Chamber of Commerce and the Property Casualty Insurers Association of America (PCI), this should be a top priority issue for Florida’s next governor.

The poll of 800 registered Florida voters was taken July 26-31 by Public Strategies Inc. The poll measured public attitudes toward business, insurance and opinion leaders, as well as voter preferences in the races for governor and U.S. Senator.

“Rather than thinking government is the answer to our property insurance problem, Florida’s next Governor should develop market-based, fiscally responsible solutions that don’t leave taxpayers holding the bag,” said Adam Babington, vice president of Governmental Affairs for the Florida Chamber of Commerce. “We have said for years that Florida is financially unprepared for a hurricane, and it’s clear that the voters of Florida agree.”

Key findings include:

• Less than four in ten are aware of the state’s ability to tax insurance policies to subsidize citizens' homeowners insurance policies, and just one in five favors the policy.

• A large majority (65%) of those polled would give policyholders one year to file an insurance claim.

• Insurance agents are seen as highly credible on homeowners insurance issues. The governor, homeowners insurance agencies, media outlets and the Florida Chamber of Commerce are also viewed as credible.

“This poll sends a clear message to lawmakers that any property insurance reform needs to be targeted at making the marketplace more competitive and geared toward long-term stability,” said William Stander, PCI’s vice president and regional manager for Florida.

Stander said, “Florida voters believe changes to the insurance laws over the past four years that promised to improve conditions for consumers have failed, with 86 percent of homeowners believing their homeowners insurance situation has either stayed the same or gotten worse. Nearly 50 percent of consumers think their homeowners insurance situation has gotten worse, while only seven percent think conditions have improved. Clearly, government must work together with insurers and consumers to find long-term, common-sense solutions that work for all of us.”