Hopefully with less Public Adjustors(17K from 30K) and the fact that they are still under the mircroscope, this is good news for them. We all hope this does not balloon into more and bigger Fraudulent claims like we had before with the Sinkhole issues among many other’s. In Fort Lauderdale this will mean more claims being submitted and resubmitted, so the strength of Citizens which is bad already will now get worse. Let’s hope the rest of this new bill works better for the consumer, but with higher prices still looming for next year, that does seem lilkely. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well. Please enjoy the full article below;
May 14, 2013
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October 7, 2011
Public adjustors claim to get you more money, but many of them use Fraudulent practices(Sinkhole Claims have been the worst) to get that money and take 20% or more from your claim check. To control Fraud the State wants to keep Public Adjustors out of the picture until a claim has been made so the Insurance company reviews the problem first. Public adjustors try to come out first and this can cost the consumer a lot of money if the claim would have been paid properly and the adjustor was never needed. This has caused a lot of issues and a Law suit as well by the Public adjustors. This is a 5th amendment issue possibly so the case will be heard. The Legislators and court system will be dealing w/ this issue over the next few months so please watch for more info. This will affect people in Fort lauderdale, S. Florida and all over Florida as well. Please read the full article by Julie Patel of the Sun Sentinal and please remember to call L & S Insurance for all of your Home, Auto,Flood, Business & Commercial and even Life and health Insurance quotes as well.
September 15, 2011
In this article by Julie Patel of the Sun Sentinal if your insurance company has been liquidated which 8 have since 2006 then claims will be slower in coming. There is more red tape to deal with and the money has to come from somewhere and the FIGA fund is not liquid itself!! Hurrricane season does not make this any easier either. There are still lot’s of unresolved claims in Fort lauderdale and all of Florida because new adjustors get assigned and they are looking out for the state and not the consumer. Please stay in touch w/ your agent and GC as well. Only use a public adjustor if truly needed since they take so much from the claim and the new bill signed by Governor Christ will make many of those adjustors leave the business as many of them are quite unethicle. Another carrier Home Wise Insurance has lost the A rating and I expect them to go under next year. We will contact our clients as best as we can to start to offer new policies to them now, but many will have to wait till the State makes i’s move in the spring of 2012. Please call L & S Insurance for all of your Home, Auto, Flood, business and commercial and Life Insurance as well and please enjoy the article below;
September 6, 2011
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This article given by Jeff Grady of the FAIA about this topic is very timely. Since Governor Rick Scott just signed a Bill that will prevent some fraudulent claims that public adjustors have been accused of is now out in the public. Citizens Insurance will no longer allow Public Adjustors to submit claims first for clients to avaoid this issue and all companies should go this route to help the consumer.Here in Fort Lauderdale and all of Florida Public adjustors have hurt the Insurance industry and are a key element to all of the recent rate hikes. They say they get you more money and in some cases this is true, but when they take 20% of that money they are really getting for themselves. Since claims are paid and you can get most of this money on your own if you work w/ your agent, the need for a Public adjustor is usually not necessary. With all of the sinkhole claims and many being Fraudulent, public adjustors should all be ashamed of what has happened and they should correct and moniter their own industry. The message from Jeff grady is simply exhaust all options first before you hire one and please remember to call L & S Insurance for all of your Insurance needs like Home Insurance, Auto, Flood, business and commercial and Life Insurance as well. Please enjoy the article and we are always here to help w/ your claim needs as well.
May 19, 2011
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The deadline for old claims has been 5 years and thousands of last minute claims from Hurricane Wilma came in very last minute by a lot of Public Adjustors! Now that the new bill has been signed into law and the new time frame is 3 years, all of these claims will now be reviewed to see if the claims will be settled or not. Governor Rick Gcott has tried to keep the fraudulent claims from getting paid in the future, but it seems like The Cat fund which is our tax payer fund now as well, is going to review these claims very carefully and soon. CFO Atwater will also be part of this investigation to determine Fraudulent claims and valid ones.Please be ready for Hurricane season as 6/1 is close and be sure your premiums are paid timely as there is no grace period on property Insurance. Please read the full article below and please call L & S Insurance for all of your Home, Auto, Flood and commercial quotes.
May 18, 2011
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Well the bill is now Law as Governor Rick Scott signed it in Tallahassee on 5/17 days early of his 5/26 deadline.Even though Senator Fasano a fellow Republican has been saying that this is not good for the Home owner’s in Florida as it can increase rates 15% or more every year.He has also said this goes against the Governor’s promise not to raise taxes and he feels this is doing that through the back door of the Big Insurance companies. This is definitely a win for big Insurance and the companies will definitely become healthier the real question are the current rates from Citizens Insurance. Today, the rates are very competitive and people are choosing them and this will get worse if the rates for Citizens do not become much higher and very quickly.The Citizens bill did not pass yet so I believe there will be a special session over the summer for at least this reason. This will not help the people struggling to make ends meat while paying $100 or $200 more / month just for Insurance on their home.This bill will affect Public adjustors and their ability to help clients and also will dictate who will be able to file the claim first. The bill does focus a lot on Claims and speifically sinkhole claims. It will be more dificult to get paid and to even file a claim and if you do have a sinkhole you may not be able to collect on Coverage B appertanent structures and other areas. This will be better for Insurance agencies like L & S as higher premiums generate more revenue which has been tough over the last 3-5 years, but the Real estate world will have a huge negative impact and this could truly slow the Florida economy, but no one else seems to be talking about this like I have. Please read the full article as it is a big one and please call L & S for all of your Home, Auto, flood, business and Life Insurance quotes.
May 10, 2011
Everything I have been blogging about is here except for the Increases In Citizens Insurance. That was a seperate bill that is not yet passed by our Legislators in Tallahassee ,but is crucial for the success they want and expect. I personally have no idea how all of this will work if Citizens is only increasing at 10% statewide and everyone else is increasing at 30% or more. Citizens will be the cheapest by next year and everyone will go there no matter what? Is this what Governor Rick Scott really wanted. I thought he wanted to get rid of Citizens and he even is having it renamed to ” The Florida Taxpayer Insurance association”. I guess he wants all Floridians insured by the State which is so opposite of what he campaigned for and was elected for. As for the rest, Public Adjustors will be looking for new jobs and claim payouts will be harder to collect on as well as Sink Hole definitions, coverages and prices are all up for grabs. It will take a while for all of this to sink in and everyone will now be looking for opportunities as usual.Everyone seems happy a bill was passed even the CFO and Insurance commissioner as well. They all applauded the bill being passed in both houses easily and ready to be signed by our Governor. In the meantime, please read the new bill and please call us at L & S Insurance for all of your Home, Auto and Flood quotes. Please remember that Hurricane season is just around the corner so be ready and shop early.