Free Market Think Tank Blasts My Safe Florida Home Termination

Free Market Think Tank Blasts My Safe Florida Home Termination

A rare government program worth saving
March 01, 2009
Contact:
Eli Lehrer 202-615-0586
Christian R. Cámara 305-608-4300
Free Market Think Tank Blasts My Safe Florida Home Termination
A rare government program worth saving

 

Washington
,
D.C.
, March 1, 2009—The Competitive Enterprise Institute, a
free market think tank known for opposing just about every government
program under the sun today blasted governor Charlie Crist's decision
to cut all funding for Florida's My Safe Florida Home Program. My Safe
Florida Home, which has existed under its current name for two years,
helps Florida homeowners reinforce their homes against hurricanes. The
program, in a small way, makes up for the state's failure to allow the
market to do its job and provide risk-based rates to Floridians.

"I tend to oppose
every government program, up to and including hot lunch for orphans,"
said CEI Senior Fellow Eli Lehrer. "But this program is just a
small--admittedly insufficient--way of making up for Florida's
regulatory overreach and total prohibition on risk-based insurance
rates. It saves about seven dollars for every dollar the state spends
on it."

"Florida has more risk than all the 'hurricane alley' states combined," said Christian R. Cámara, Director of CEI's Florida Office.
"The My Safe Florida Home program actually
reduces Florida's exposure by helping residents fortify their homes
against hurricanes thereby reducing their insurance premiums. Although
achieving a competitive, truly free-market insurance environment in
Florida is the best long-term solution to the state's insurance crisis,
the My Safe Florida Home program provides immediate relief now when
people need it most, and most importantly, helps save lives and
property."