It is absolutely disgusting what State Farm is doing, abandoning Florida homeowners after profiting for years on their policies.
Boca Raton, FL (PRWEB) January 28, 2009
People's Trust Insurance Company issued a statement today regarding the State Farm request to phase out more than 1.2 million home and condominium policies in Florida. CEO Mike Gold stated "It is absolutely disgusting what State Farm is doing, abandoning Florida homeowners after profiting for years on their policies."
Gold went on to say, "If they don't want to partner with the state's consumers on property insurance, they ought to be good corporate citizens and get out completely. Our industry has specific customer obligations and my feeling is they should be all in or out."
"People's Trust Insurance Company (http://www.peoplestrustinsurance.com) charges roughly half of what State Farm collects for the same policy and still makes money," said Gold. "We've got a catastrophe plan to help fix the system they claim to be unable to work in, which we'll unveil in a few weeks, that has the strong support of Florida Governor Charlie Crist and Insurance Commissioner Kevin McCarty. It is the kind of creative thinking this industry desperately needs, something State Farm wouldn't or couldn't bring to the table."
To arrange interviews with Mike Gold, contact Stu Opperman, APR at 954-815-2303