Slide Into Greed: $50M Payday for Insurance CEOs as Homeowners Drown in Premiums...

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Just three years ago, Slide Insurance burst onto Florida’s storm-ravaged property market, buoyed by a bold purchase of policies from Citizens Property Insurance Corporation, the state’s insurer of last resort. 

Fast forward to 2024, and Slide reported a tidy $200 million in profits—while its top brass, CEO Bruce Lucas and COO Alissa Lucas, pocketed a combined $50 million in compensation. 

Homeowners hit by 20%+ premium hikes aren’t exactly impressed.

“The greed! The rich get richer and the poor get poorer,” laments Cape Coral resident Mary Bousquet. “The whole thing is out of control—someone has to do something.”

Premiums Soar, Coverage Evaporates

Across Florida, extreme weather—stronger hurricanes, heavier flooding—has insurers fleeing high-risk zones or tightening policies. With fewer carriers remaining, families scramble for coverage at ever-higher rates. Meanwhile, Slide’s profits—and the Lucases’ paychecks—keep climbing like Category 5 eye walls.

“They’re nickel‑and‑diming us for every leak, crack, and breeze,” says Stuart homeowner Carlos Gutierrez. “Then Bruce Lucas strolls off with more money than my house is worth!”

Profits vs. Pain

Critics argue that $200 million in profits shouldn’t justify sky-high executive compensation when customers struggle to maintain basic coverage.

“Slide’s patrons are drowning in bills,” says consumer advocate Laura Hernandez. “Yet their CEOs are swimming in bonuses. That’s obscene.”

Others contend the crisis goes deeper: it’s not just corporate greed but unchecked climate change and aging infrastructure that fuel rising costs.

“Our drainage systems can’t handle these storms anymore,” notes civil engineer Raj Patel. “Until we upgrade levees, pumps, and building codes, premiums will keep spiking.”

Regulators Under Fire

Federal and state regulators face mounting pressure to act. Proposed solutions include:

  • Tightening rate‑hike approvals, subjecting insurers to tougher scrutiny.

  • Capping executive pay, tying compensation to customer affordability.

  • Expanding public insurance programs to offer relief in underserved areas.

  • Incentivizing homeowners with tax credits or grants to stormproof roofs and elevate structures.

So far, progress has been slow.

“Regulators are stuck in the slow lane while premiums race ahead,” says former Florida Insurance Commissioner Ellen Swanson.

Homeowner Horror Stories

Take Trevor Magnus of Naples, who requested a wind‑damage claim.

“They wanted satellite images of my roof,” he fumes. “I need a NASA budget just to prove a few shingles flew off!”

Or Denise Alvarez, whose premium jumped from $300 to $400 monthly.

“I start my day thinking about sunshine and palm trees,” she says. “Then I see this premium notice—and it feels like getting hit by a flash flood.”

Who’s Profiting?

As Slide’s executives rake in millions, homeowners ask: How much more will we have to pay—and who’s really benefiting from our misery?

With hurricane season approaching, and no clear relief in sight, the gap widens between Slide’s boardroom windfalls and families choosing between insurance or groceries. Until regulators, insurers, and legislators find a compromise—balancing profitability with public protection—Florida’s housing market remains a tempest of outrage and uncertainty.

“They say weather is unpredictable, but greed like this? That’s a sure‑fire forecast.”

Florida Homeowners to Insurance Companies: "You Played Us, Didn’t You? 

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#SlideIntoGreed
#InsuranceRage
#LucasLoot
#PolicyholderPanic
#PremiumPiledriver
#FloodedWithFees
#HurricaneHighCosts
#GreedyExecutives
#FixTheInsurance
#FloodZoneFiasco
#RegulateTheRates
#CEOvsHomeowner
#OutrageInFL
#InsureOrExpire
#MoneyRainstorm

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