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Larry if he was talking about the stock market I would agree at this point.

Carriers really take in on the chin when the markets dive. They were saying Monday the stock market would go up after the election even if Obama won because the market had already sold off expecting him to win. I guess the talking head forgot to make sure Wall Street heard his remarks since in has only gone in one direction since Wednesday. Russia promising a arms race has not helped I am sure.

Of course the carriers will still be selling property insurance but perhaps less with the lower home values. Regulation is sure to follow years of deregulation and with many new insurance state commissioners taking office that should being some changes but not sure what kind.

I will venture to guess that within the 1st 6 months of next year you will see a big push to change the flood policy to a policy that will provide wind coverage also. We have talked about it in another thread, but now that Bush is toast (he said that he would veto such a bill) and the Dems picked up more pull in both the house and senate I think it will go through. I for one would like to see such a thing IF ( and that is a big IF) the rates were truely risk based on the exposure involved. Flood rates have never been that, and I don't believe the people pushing this in the house really want it to be, as the people who need/want this the most are the ones right on the coast. Time will tell.