That’s fascinating and I have not heard of this type of system before. Presumably in a system like that, they would still be returning the person’s money when they left, though…
Hearing rumors @WeAreFarmers might pull out of Florida. If that’s true my office is going to explore every avenue possible for holding them accountable. Don’t get to leave after taking policyholder money. Can’t write auto if you’re not doing homeowners either. Zero communication!
“Don’t get to leave after taking policyholder money”
What do you think insurance is? You’re not “purchasing” anything, you’re buying an ability to recover losses. It’s not like when I cancel my policy I get to walk away with a pile of boards from Home Depot on my insurance company’s dime because I haven’t had major damage to my house.
It’s like if Netflix decided to cancel all subscribers in FL and the response was “I gave you all that money and I don’t get to keep watching your movies forever???”