This bill will try to cover all of the things I have been showing over the last several months. Since this year is not an election year, anything goes, so this year is likely to have some real changes. The issue is who will benefit? There could be more private Insurance companies, less policies in Citizens, and The cat fund could put Re-insurance back to the private market as Governor Christ had put Fl0rida at risk by becoming a reinsurer. The will help save Citizens from going under beyond 1 storm or sooner and the Florida Cat fund as well, but who will be the real loosers?? That my friend is the consumer(us), because to save Citizens and the Florida Cat Fund premiums will continue to rise. Buying insurance in Fort Lauderdale and South Florida is already so expensive, but all of these transitions could cause some major rate hikes still to come. What will the people of Florida do?? Well it seems the the U.S. Governmant will bail out any catastrophe as proved with Hurricane Sandy since a 50 billion dollar bill to help those who chose to not have insurance is now law. If the Fedeal Government and the Legislator in Washington D.C. will save everyone from these cats then why should our prices rise and how can we use this to our advantage?? There is still the questions about Citizens Insurance as well and Insurance Commissioner Kevin McCarty still wants to change Citizens back to being the Insurer of last resort at rates 15-20% higher than anyone else in the marketplace. This is where we were before Governor christ and that was also not a good situation??? As usual, this will be discussed, most do not understand what will happen, but prices are still on the rise for 2013 and 2014 for sure. Please read the full article blow. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.
February 2, 2013
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March 14, 2012
Surplus lines bill rejected and will not help Citizens Insurance shrink in Fort Lauderdale and all over Florida!Posted by homeinsuranceguru under Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Christ, Governor Rick Scott, Home Owners Insurance, Julie Patel, Legislators, Rick Scott GOP, Sun Sentinal, Tallahassee | Tags: Auto Insurance, Car Insurance, CFO, CFO Jeff Atwater, Citizens, Flood Insurance, Florida, Fort Lauderdale, Geovera, Governor, Governor Rick Scott, Home, Homeowners, Insurance, Julie Patel, our partners at www.1ststate.net, Sun Sentinal |
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Julie Patel and Paul Owers of the Fort Lauderdale Sun Sentinal confirm the news! It is not like this bill would really help shrink Citizens as only 1 carrier(Geovera) came up to the plate to take out 35-50K policies which is minimal numbers to the 1.5 million currently in Citizens today! What Governor Rick Scott, Insurance commissioner Kevin McCarty and CFO Jeff Atwater should be doing with the current Legislature is a new Citizens bill that did not make it to the floor last year and never even discussed this year. Why does this happen and there is only 1 answer, politics and votes. No one will vote to re-elect a Senator, Congressman,or Governor, when they vote to do what is necessary like raising rates on Citizens to be the Insurer of last resort again and that is how it should stay. Governor Christ changed that situation to be a competitive company and until it changes back, the issues in Florida will not get resolved. Please contatc L & S Insurance at 1-888-244-7400 for quotes on HOme, Auto, Car Insurance, Business and commercial, Flood, and even Life Insurance quotes. This article was sent to us by our Friends at First State Insurance. Please read the full article below.
July 14, 2011
Here is an Article by Julie Patel whose info I post very regularly, but this one misses the boat badly! Julie is w/ the Sun Sentinal and seems so concearned about How much Citizens made this past year and not ablout what they have when a claim comes. Citizens Insurance is the only company in Florida that does not have Re-Insurance which every company is required to carry. This means that when the money runs out the people of Florida have to pay the bill. This is why people should be with a regular carrier and this is also why Citizens rates are so competitive as well. Every company will only only pay a deductable for all major Hurricane claims, but Citizens will use up all of it’s reserves and then it will fall on the tax payer’s to cover the bill. Why do we want that bill especially since this State of Florida is almost bankrupt and cannot afford it’s teacher’s never mind a 20 billion dollar Hurricane like Wilma, Andrew and all of the other’s inbetween. Governor Christ put this system in place to lower rates in Florida and has nearly put the industry in the toilet. As much as I do not want these crazy rate Hikes the cost of re-Insurance is so Important and so stupid for our Now Governor Rick Scott to not fix this problem. If this is not fixed, the 1.4 million people in Citizens,which grows by 40K /month ,will bury the State when the next major Hurricane hits this year or next. This will cause problems for us beyond our wildest dreams and not good ones. Home Insurance in Florida and Fort Lauderdale is a very complicated issue and cannot be looked at from just one angle and I am surprised that Julie Patel would write this article, which has accurate info, but does not discuss the topic of Re Insurance and that cannot be left out when the discussion is out there. Please read Julie’s info and please call L & S INsurance for al of your HOme, Auto, Flood, Business and commercial and Life Insurance as well for Florida and Fort lauderdale.
June 28, 2011
No new news here, just the facts on Home Insurance, Governor Christ, Governor Rick Scott, the Florida Legislative body and all of the things Florida tries to do and fails all the time. Please read the full article from The Sun Sentinal to help explain why Home Insurance is so bad here in Florida. Please call L & S INsurance for all of your Home, Auto, Commercial and business Insurance and Life Insurance as well.
May 17, 2011
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Senator Fasano who was part of this bill is now saying this goes against The Governor’s promise to not raise taxes.This bill is a mess that was passed by our Legislator’s in Tall and it was rushed as well because they assumed this would be signed into Law quickly. Now come the delay’s and isn’t this what Governor Christ also did last year and then finally vetoed the bill. Nothing is really resolved w/ this until the Citizens Insurance Bill is passed and signed as well. Citizens Insurance must become the Insurer of last resort w/ the highest prices or everyone will be in Citizens by next year. The goal is to reduce Citizens into the private marketplace because Insurer’s will have rates they can live with and come back to Florida. Citizens is a bargain this year in many cases and it will continue to grow from the nearly 1.4 Million and not decrease like our Governor really wants.Everyone else has raised rates 30% or more in S. Florida, the people are upset and Citizens has some of the lowest rates for so many people it is no wonder thay are choosing it already.On top of all this Re-insurance and the Japan crisis are also going to affect Florida insurance issues as well. Hurricane season is now only 3 weeks away or less and based on what the world has seen of late we all need some luck for this season. please read the fulla rticle by Julie Patel of the Sun Sentinal and please call L & S Insurance for all your Home, Auto, Flood, commercial and Life Insurance needs.
April 22, 2011
3 major Home Insurance bills affecting all Home Insurance companies and especially Citizens Property Insurance could raise rates, reduce protection for Florida consumer’s and reduce regulation on Insurance companies or possible all 3???? Last Year Governor Christ w/ then Congressman Atwater vetoed the bill and Senator Atwater applauded the veto because it protected the Florida Insurance consumer. This year it seems that Governor Rick Scott will not veto the bills and will protect The Insurance companies this time so the consumer is left behind and this does not sit well w/ many although it seems like it will pass and possibly all 3 areas will go through. This may work in the long run, if many large Insurance companies come back to the Florida marketplace and if they decide to compete for business which could drive rates down. Well, there are many what if’s here and this does not take into account Hurricane season which will be under way in 5 weeks and what if another one Hurricane to Florida or S. Florida which is worse. Please read the full article by the Miami Herald editorial division and remember to call L & S Insurance or ask for a quote on this Blog page;
April 20, 2011
Here is an article from the current president of the FAIA who is trying to explain why Insurance rates are so high and how the system works. He also tries to explain why the Insurance bill in Tall. about Citizens Inurance is so Important to pass and make them the Insurance company of last resort. All of the Legislator’s in Tall. are working diligently to try and fix the problem we have had since Governor Christ made Citizens a competitive company which should never have happened. The problem is that this did occur and fixing it will take years and increase premiums for several years before we see some reprieve. The bigger problem is can Real Estate clients trying to buy homes in Florida afford the Insurance that is now at 1% or more in most cases which is thousands of dollars / home in S. Florida. Hurricane season is close and it is almost decision time in Tallahassee so prepare for the worst in the next few years and hope the dust settles in a better place this time around. Please call L & S Insurance for all your Insurance needs and quotes on this BLOG page;
April 19, 2011
Under Governor Christ he opposed the Big Increases for insurance carrriers, but now he is in support of the rate hikes(kind of) that are already under way and will be huge after the Insurance bill and citizens bill passes and they want to know why. The new CFO used his past to get in office, but now he seems to want to partner w/ the new Governor Rick Scott and the congress that will raise rates 30% or more this year and next at least before we see any kind of recovery to better rates w/ better carriers and till then there are a lot of IF’s???? Why the change of heart is why they want him to take the stand and he seems to be pleading the 5th?? Please read the full article by Julie Patel on the Legislator’s in tall and what is going on in the Florida Home insurance world as we approach hurricane season. Please call L & S Insurance for all your Insurance quotes and needs;
March 9, 2011
This article does cover all the current issues affecting Florida Homeowner’s on the New Senate Insurance bill SB408 which replaces the SB 2044 from last year. The old bill was passed by the the Legislator’s in Tall. and then Governor Charlie Christ Veteod even after Insurance commissioner Kevin McCarty urged him to sign it. This new bill adds a few items to it like the Citizens reform to make it the Insurance company of last resort again and to keep Public adjustors from filing claims against any Citizens policy.Our New Governor Rick Scott has already pledged in his campaign promises to sign this bill and please feel free to read what is coming down the pike w/ Deregulation reform w/ Home Insurance in Florida. Please also remember to contact L & S Insuarnce for all your Insurance quotes and questions as we are a Trusted choice member as well;
March 2, 2011
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Senator Garrett Richter is leading the Republican charged to get the Senate bill 2044 put through since last year it was debated, discussed and passed but veteod by then Governor Christ. GOP Governor Rick Scott is ready, willing and able to sign off on it, but awaits it’s passage.The theory is that the most expensive policy is one where the company is not solvent enough to pay the bills like Citizens and many carriers as well.Last year the OIR tried to get Insurance commissioner Kevin McCarty on board as well as the issues of Sinkhole were already big . Now it seems the debate is worse because of all the Sinkhole claims and the Fraudulent claims by some Public Adjustors does not make this any easier.Most in Tall. feel that this should not have been vetoed last year and with a pending Hurricane season coming soon, there is a sense of urgency to make some major changes and quickly. This does mean higher prices for a while at least so please call L & S Insurance to get the best quotes that are available. Please read the full article from the Tampa Bay on line commentary;