Please remember to call L & S Insurance at 1-888- for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.


Senate Bill 836 by Senator Latvala passed out of the Senate with a unanimous vote in support and has now been sent over to the House, where it was substituted for House Bill 557 and sent to the Governor. Previously reported on in-depth, the bills would revise the procedure in which insurers pay and recoup assessments levied against them by the Florida Insurance Guaranty Association (“FIGA”). It would allow for more opportunities for insurers to remit assessments after they are collected from policyholders, rather than advancing the funds to FIGA, at the option of FIGA.



Senate Bill 1094 by Senator Brandes passed out of the Senate with a unanimous vote in support and was sent over to the House. Its companion, House Bill 895 by Representative Ahern, was substituted for the Senate version and passed the House with an 89-26 vote in support. The bill now heads to the Governor, to be signed into law.


Reported last week in-depth, the bill would revise the flood insurance reform passed by the Legislature last year. The bill allows for the sale of “flexible flood insurance” and allowing private insurers to obtain certification from the OIR, which would state and compare the coverage specification of the policy with that of the National Flood Insurance Program (“NFIP”). “Flexible Flood Insurance” allows consumers to purchase flood coverage limits which will cover the outstanding mortgage, but will not be enough to repair the home. The bill also allows insurers to provide credits to the policyholder if the OIR determines that the rate being charged was excessive. This practice would be done in lieu of cash refunds.


Senate Bill 842 by Senator Benacquisto was substituted on the Senate floor for its House companion, House Bill 715 by Representative Raschein, which had already passed out of the House with a unanimous vote in support. The bill then passed the Senate with a unanimous vote in support as well. The bill now heads to the Governor’s desk for consideration.


As discussed in past weeks, the bill would allow a home existing seaward of the coastal construction line (“CCL”) to be substantially improved and still be eligible to receive Citizens coverage. Such improvements could be the repair, reconstruction, rehabilitation, or improvement to the structure that costs 50% or more of the market value. The bill would continue the prohibition against Citizens coverage eligibility for new homes seaward of the CCL.




A two-year PIP fraud (personal injury protection) investigation involving Integrated Healing Clinic in Tampa, Fla., has concluded with the arrests of 7 residents, according to a statement by the Florida Department of Financial Services’ Division of Insurance Fraud. The Division’s investigation discovered that clinic staff had filed several patient claims with multiple insurance carriers for prices that far exceeded actual treatment costs and, in some cases, for treatments that never took place.

“These individuals orchestrated a complex operation to defraud insurance companies and, ultimately, all Floridians,” said Deputy CFO Jay Etheridge. “I’m proud of the results of this collaborative investigation and hope this serves as a deterrent for anyone considering or currently engaged in similar criminal acts in our state.”


Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.  Please  enjoy the full article below.


Citizens Property Insurance Corp.’s Board of Governors has approved the issuance of up to $1 billion in pre-event bonds to provide Citizens with readily available cash flow for the 2015 hurricane season and beyond.

By unanimous vote on Tuesday, board members approved a recommendation by Citizens Chief Financial Officer Jennifer Montero to continue Citizens’ ongoing liquidity financing program and replace coverage from similar bonds that begin to expire in June.

Citizens now has access to approximately $2.6 billion from such pre-event bonds, but most of that will mature over the next three years, with $490 million expiring in June 2015, and $1.7 billion expiring over the next two years.

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well. Please enjoy the full article below;




Speaking to the Citizens Board of Governors Wednesday in Maitland, Fla., Citizens President/CEO and Executive Director Barry Gilway said successful depopulation efforts, affordable reinsurance and a vibrant private market have combined to reduce Citizens policy count to 598,408, as of March 13.

Created by the Florida Legislature in 2002, Citizens handled about 602,000 policies in January 2003. Following an unprecedented string of storms in 2004-2005, that policy count peaked in November 2012 at nearly 1.5 million policies, about 26 percent of the Florida residential market.

Barring a major storm, Gilway told board members that Citizens could see its footprint shrink to as low as 450,000 policies as financially sound private companies assume policies that, even a year ago, were expected to remain with Citizens for years to come.

“The reality is that significant improvements in profitability and the increasing financial strength of private companies has been a major factor in our ability to return to our role as the state’s insurer of last resort,” Gilway said, following his presentation to the board.


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Lot’s of good talking points for Realtors and I cover all of this in my Classes I teach in Fort Lauderdale and anywhere in the State of Florida. Please contact me for a class at your location at 1-888-244-7400 and please call L & S for quotes for Home, Flood, Auto,Business & Commercial, & Life & Financial quotes as well!

A Florida court has ruled that one of the state’s largest automobile insurers must pay over $100,000 in attorney fees under the “additional payments” provision of its liability coverage

Typically, attorneys who represent automobile accident victims are paid on a contingency basis and receive a percentage of any damages paid to the victim. Payments to attorneys are characterized and considered as “fees.”

Such fees are differentiated from court “costs,” which a prevailing attorney receives from the insurer. Costs can include monies for filing documents, hiring expert witnesses, court transcription services and other expenditures.

There is only one exception to that compensation system. Under a Florida law, if a victim’s jury award exceeds an offer of settlement by more than 25 percent, the victim can request a payment for additional attorney fees.


Please read the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Flood Auto, Business & Commercial, & life & Financial products as well.



Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well.

Florida Governor Rick Scott is looking for a replacement for the state’s top insurance regulator and has already contacted a potential candidate from Louisiana.

Scott’s office has confirmed that the governor contacted Ron Henderson, Louisiana deputy insurance commissioner for consumer advocacy, as a possible replacement for Florida’s current insurance commissioner, Kevin McCarty, who has headed the Office of Insurance Regulation (OIR) since 2003.

McCarty has reportedly been targeted for replacement as part a shake-up of top officials by Scott as he embarks on his second term.

In a letter to Chief Financial Officer Jeff Atwater, Scott called for new heads of the OIR, the Office of Financial Regulation and the Department of Revenue.

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