Senate grilling continues
The showdown Monday between state lawmakers and some of the biggest property insurers did little to clarify why rate cutting laws haven't worked and sparked several testy exchanges.
Do you make a profit on auto insurance, a state senator asked Allstate Floridian chief executive Joseph Richardson. "To my knowledge, I cannot comment," Richardson answered. "I don't want to comment on whether we are or whether we aren't, senator."
What's your annual salary, another senator inquired later.
"That's confidential information," Richardson said.
Sen. Bill Posey, R-Rockledge, wanted more concrete answers.
"I haven't seen so much bobbing and weaving since Muhammad Ali did rope-a-dope," said Posey, who runs a Senate committee in charge of creating insurance policy. "We could be doing this forever."
The hearings continue today. Read the report here.