FEMA

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May 9, 2013

Hurricane season is here and new warnings for storm surgeand inland flooding like 2012!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance | Tags: , , , , , , , , |
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3 storms hit Florida last year and they were all wet, but little to do with wind issues. This presents many problems including the predictability of where and when it will come. most of our technology has been toward wind speed and tracks, but now we are more prepared than we have been in the past. Please read the full aricle to better prepare yourself from water damage claims as Insurance companies like FEMA for Flood , and other Home Insurance companies like Citizens and all of the other’s will or will not pay.If you are in the Fort Lauderdale or anywhere in Florida, you should carry a Flood policy. People Inland with no mortgage and in a flood zone seem to think they are safe, but our Canal system allows for Flood waters to be in many parts of Florida so everyone should carry a Flood policy. Please call L & S Insurance for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well at 1-888-244-7400.

http://www.insurancejournal.com/news/southeast/2013/05/09/291385.htm

 

May 6, 2013

Citizens Insurance, Florida lawmaker’s in Tallahassee approve the clearinghouse bill!

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance, Tallahassee | Tags: , , , , , , , , , , , |
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The watered down bill from the Senate was approved as a house bill that primarily deals with Citizens Insurance. Citizens needs to shrink and a clearing house where the policy given to Citizens can be shopped out before it is sent to be issued by an underwriter. If any carrier has rates even 15% higher for the same coverage, the client will be moved and no option for Citizens will exist for them. Companies will now be lining up when this starts and that could be as early as 1/1/2014!!!  In Fort Lauderdale the prices will still rise and since every carrier now knows that the pricing can be 15% more than Citizens, that pricing will likely be expected.  Although the bill does not dictate price for Citizens, the fact that 15% will now be enforced will allow the carriers to raise and keep rates at just under 15% of Citizens to be sure they maxinmize the premiums they can receive. In Fort Lauderdale and most of South Florida, this will continue to mean higher rates. Governor Rick Scott wanted more, but this is a bill he can sign and still try for re-election next year. After the election next year another bill will be easier to pass again. Please read the full article and the comments by FAIA president Jeff Grady. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood Business & COmmercial and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/05/06/290969.htm

 

April 23, 2013

Flood Insurance suggested for all in Fort lauderdale and Florida by Insurance Commisioner Kevin McCarty!

Posted by homeinsuranceguru under Auto Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Insurance commissioner | Tags: , , , , , , , , |
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Flood Zones are changing this year and many will not be required to be covered by a Flood policy, but Flood Insurance is still needed more than ever. Flood is the leading natural disaster there is known to common man and if you like or love your home, you should protect it. If you no longer need Flood Insurance that also means that a Flood policy could be priced 1/2 of what it was so it is still a great Value. Please remember that Seepage is Flood and not a Home Insurance claim so you will not be covered with out. Please call L & S Isurance at 1-888-244-7400  for all of your Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well. Please read the full article from the Florida Insurance Journal.

http://www.insurancejournal.com/news/southeast/2013/04/23/289479.htm

 

April 11, 2013

State Farm found Guilty by a Jury for a Fraudulent Flood claim.

Posted by homeinsuranceguru under Auto Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Fraud, Home Owners Insurance, State Farm updates | Tags: , , , , , , , , , , |
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Why pay a claim from your base Insurance carrier(LIke State Farm) when you can say it was flood coverage and then have FEMA pay for the claim????  This also limits the consumer payout to 250K which is the max payour for a building or home for a flood policy. State Farm will try to appeal the case, but they will have to reimburse FEMA 250K and then the claim will have to be reviewed to see if the State Farm policy would have or should have paid more. Perhaps the wright your own Flood policy that every company can do and make money of, should be reviewed and not allowed by carriers that do the Home Insurance policies as well? In any event please read or follow the story as it is appealed by State Farm and see how even this type of Fraud affects our insurance rates and here in Fort lauderdale and all of South Florida, we are paying for it way to hard these days!! Please call L & S Insurance for quotes on Home, Auto, Flood, Business & Commercial, and life Insurance as well at 1-888-244-7400.

http://www.insurancejournal.com/news/southeast/2013/04/10/287828.htm

 

 

April 3, 2013

PIP Insurance and the bill that was passed last year could now be repealed by court ruling!

Posted by homeinsuranceguru under Auto Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Legislators, Tallahassee | Tags: , , , , , , , , , , , , |
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What a waste of taxpayer dollars last year to spend all the time to pass a bill when everyone knew that to repeal PIP is the only real solution to a lot of Fraud here in Florida. Fort Lauderdale and Miami are impacted the most, but all of Florida needs some rate decreases somewhere so making Florida a PIP state no more would be a better suggestion to all. Let’s see what the legislators in Tall. do now??  Please read the full article below from the Fort Lauderdale Sun Sentinal and written by the Tallahassee division, but sent to us by our friends at First State Insurance. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial Coverage and Life Insurance as well.

http://www.sun-sentinel.com/news/fl-pip-no-more-20130402,0,6803996.story

 

March 13, 2013

Florida Senate Bill on Property(Home) Insurance passes the first round.

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance | Tags: , , , , , , , , , |
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Depopulation, raising rates and a Keep out program are in there and loud and clear. Citizens Rates for Home Insurance policies would now be based on the top 20 priced carriers and the rate would be averaged out. Diffrant rates would apply when no coverage is available. This with rate increases at much higher rates then the past  to make them Actuarily sound, will be in order by 1/1/2014. This will raise rates tremendously in Fort Lauderdale and all of S. Florida the most. Citizens Insurance  will also move some of the Reinsurance risk to the private reinsurer’s and pass that additional 3% increase to the consumer as well. This cannot bode well with the Realtors and Homeowner’s of Florida, but a fix is needed.Issues like poly pipes and other issues with older homes at this point is not even a topic of discussion. A House bill also passed the first round, but it does not cover as much and most of this bill is likely to get in. More to come as it happens, but stay tuned. Please enjoy the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial coverage’s and Life Insurance products as well.

http://www.insurancejournal.com/news/southeast/2013/03/13/284528.htm

 

March 5, 2013

Citizens Home Insurance, lots of overspending and who is watching???

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home Owners Insurance | Tags: , , , , , , , , , , , , , |
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All companies have this, but this is a State run entity, not even an Insurance company. Why are they traveling so far and so  extravagantly? Why are things going on like there is no supervision(Employee scams), because this is Citizens and this is how they have been and will continue until management really takes over and they stop working like the government entity they are. People like to complain, and some have no options for sure, but most can get out if they try. The agents they have do not have the carriers and they do not have the liability exposure to be forced to do the wright thing so they only try to get more business and say what is necessary to do so. Until this entire system is fixed then everything done is a bandaid  of which I have spoken often. In Fort lauderdale and all of S. Florida, or rates have jumped 50% or more in the last 2 years since Governor Rick Scott came to office and he did promise this would happen. Please read the full article about lot’s more Fraud here in Florida. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.mcclatchydc.com/2013/03/04/184730/carl-hiaasen-this-florida-citizen.html

 

February 21, 2013

Citizens Insurance President Barry Gilway deals with executive pay and bonus amounts.

Posted by homeinsuranceguru under Home Owners Insurance, Auto Insurance, Flood Insurance, Citizens Insurance, FEMA, Tallahassee, Rick Scott GOP, Governor, Governor Rick Scott, Florida, Propertyinsurance360.com, Fort Lauderdale, Barry Gilway | Tags: , , , , , , , , , , , |
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In an article in Property & Casualty 360 you can read on all of the excuses justifying the new pay raises. It is nice to be on top even though they say, they need to pay more to get the best help in underwriting and claims. You can judge for yourself, but know that after all the dust settles, we will soon see a new Citizens and/or Property Insurance bill pass in Tallahassee and rates will go up more significantly again later this year and next. That to me is the Big Issue as who is really looking out for the consumer. Governor Rick Scott has some good sound bites about Citizens Insurance, but they are doing exactly what he wanted them to do and at lightening speed since Barry Gilway is only in his position for 8 months. Fort Lauderdale and South Florida will be hit the hardest, but time will tell. Please  enjoy the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.

http://www.propertycasualty360.com/2013/02/20/florida-citizens-ceo-gilway-addresses-criticism-to

 

 

February 14, 2013

Depopulations from Citizens Insurance,many will come from Fort Lauderdale and South Florida.

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance | Tags: , , , , , , , , , , |
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Weston Insurance the newest of companies just picked up 31K policies from Citizens Insurance and now they have a book of business and some tax breaks as well. This is what is happening and we only hope that these new companies stay in business. If they don’t then what a nightmare we will have again. I am sure we will have plenty of our clients be taken out as well so we will see how the rates are when it happens.If this works then Citizens will have had huge reductions in many areas of their financials which is good for everyone. Please read the full article and please call L & S Insurance  at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/02/14/281261.htm

 

February 11, 2013

Florida Lawmaker’s unveil the Property Insurance reform bill(1st draft)

Posted by homeinsuranceguru under Auto Insurance, Citizens Insurance, FEMA, Flood Insurance, Florida, Governor, Governor Rick Scott, Home Owners Insurance, Legislators, Reinsurance, Tallahassee | Tags: , , , , , , , , , |
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Items to be duscussed as spoken here before;

1- Depopulating Citizens Insurance- includes diverting applications when they come in as well.

2-Reducing the risk on the Florida cat fund by going to the Private reinsurance markets which are more costly to the consumer.

3-Enforcement of the 15% rule for premiums to be eligable for Citizens

4-Rate Hikes at higher levels than we have seen

5- rate Hikes by Citizens to be higher than 20 private carriers offering business in the area.

6 Agents commissions which are always a target, but we do not even Like Citizens or anything about them.

All of our legislators in Tallahassee will be discussing this including Governor Rick Scott, Insurance commissioner Kevin McCarty and others as the bill should be ready in about 2 weeks which is still 2 weeks before the session starts. Please read the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.

http://www.insurancejournal.com/news/southeast/2013/02/11/280846.htm

 

 

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