A.G. Gancarski
U.S. Rep. Byron Donalds continues to weigh in on Florida’s insurance market as he runs for Governor, now suggesting that foreign companies and “climate change” analyses are partially to blame for high costs for homeowners.
“A lot of these reinsurance companies, a lot of them who are out of Europe, they’ve been trying to price in climate change risk, which is almost impossible to quantify, but that’s been in the calculations for how insurance companies have to stabilize their portfolios and their risk,” Donalds said on Rich Valdes’ “America at Night.”
The phrase “climate change” has been one that has dogged the current Governor.
Gov. Ron DeSantis signed legislation last year striking it from state law.
DeSantis has said he’s “not a global warming person” and has complained about “politicizing the weather” but when he was running for President, he acknowledged the impact of human activities on weather patterns.
Donalds’ interviewer Tuesday night did not ask him if he believes climate change actually exists, but the Naples Republican suggested that it shouldn’t matter to reinsurers in assessing Florida’s market.
In addition to blaming European financiers for Florida’s problems, Donalds also said federal fiscal policy was driving up costs to “rebuild property” because “overspending inflates costs.”
Donalds previously said his goal is to “find a way to stabilize costs” by “reexamining some of our reinsurance capital requirements, reexamining cap requirements on insurance carriers,” along with a “lot of other things that we’re going to have to get into and really figure out how to synthesize the Florida insurance market so it can become a little bit more affordable for the people of Florida.”
The new language suggests that his position on the issue is still evolving.
His position matters to voters.
Polling last month from the Associated Industries of Florida Center for Political Strategy found that a third of voters see insurance costs as the biggest issue facing Florida.
6 comments
Michael K
March 18, 2025 at 9:06 am
Banning the words “climate change” will most certainly address the issue and make it all go away. Problem solved!
Truth is, the influx of campaign cash from the fossil fuel sector is more important than the human and financial toll of climate reality to Floridians.
As for Donald’s word salad of an “answer,” it’s very generous to characterize his response as “evolving.”
tom palmer
March 18, 2025 at 9:54 am
When I attended a conference about 20 years ago, someone who does analytics for the insurance industry predicted Florida property would eventually become uninsurable because of the effects of climate change, Have a nice day Congressman
Chuck Anziulewicz
March 18, 2025 at 10:01 am
Go to your local library and check out “The Light Pirate” by Lily Brooks-Dalton. It takes place in Florida in the near future. Personally I would not be investing in beachfront property there.
E.U. Rofobe
March 18, 2025 at 10:01 am
“. . .a lot of them who are out of Europe. . .”
Argue about climate change all you want. Just because a reinsurer happens to be headquartered in London or Geneva doesn’t affect the way it calculates risk.
This is starting to get the smell of nativism already.
Somewhere in the fetid wilds of Miami-Dade, Nikki Fried is rubbing her hands. I know you will never believe me, Republicans, but you are getting ready to blow this thing.
Skeptic
March 18, 2025 at 10:47 am
So, this guy pretends to be a fan of free markets? If these guys are making bad actuarial decisions in underwriting, doesn’t the invisible magic hand correct that? Or do we need serious government regulation? Pick your poison, but do try to develop a consistent message. Nov. 2026 is a looong way away.
MH/Duuuval
March 18, 2025 at 12:32 pm
Trump is giving his candidate in the race plenty of rope — to hang themselves or not..