Last month, the Florida legislature voted in an emergency session to lower insurance, primarily in South Florida. The measure will tax insurance policies covering homes, automobiles, and some other types of insurance policies sold in the state. That means inland and upstate Floridians may be asked to cover the riskier portions of the Florida coast line. Although inland and upstate residents are subjected to hurricane damages, the low-lying coastal areas generally receive the brunt of the storms.
In the aftermath of Hurricane Katrina, the issue arose as to whether or not to rebuild New Orleans. That question doesn’t seem to have the same force when wealthy landowners and developers want to rebuild in hurricane-prone areas of Florida. Why are no limitations placed on development along the coastal areas of Florida? Could it be money? Could it be power? Or could it be both?
The result is that the average Floridian will now be forced to help bail out those who continue to disregard the dangers of building along the coast line. This reminds me of the George W. Bush statement two weeks ago, “Sometimes money trumps peace.” In this case it is “Sometimes money trumps common sense.”