Just like in Wahington, they cannot agree and there are so many variations to this bill that little may happen this year. To me, this means that they do not want to go to work for the people of Florida and try to help the situation. Prices of Insurance are so high, many are loosing their homes because of insurance premiums and not from not paying the mortgage. Senator A. Hays and Governor Rick scott had best do something to try and help the people of Florida and especially those in Fort Lauderdale and all of South Florida where the rates are going out of control and will continue to get worse. Those legislators in Tall. need to do more work for us than stand party lines!!! Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well. Please read the full article below from the Insurance Journal today 4/19/13
Rick Scott GOP
April 19, 2013
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April 17, 2013
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Our Cat fund needs 17 Billion(which I think is way to low) to meet it’s curent Immediete needs, but the fund is more than 7 Billion short now. If you wait for the storm and issue Bonds it will be harder to sell and more costly. Who would want a bond on a State that has been clobbered already! If you buy now, you are betting the storm does not hit or hits in a less populated area. 2 Billion is better than none, but let’s see if the offer actually sells when it is available. In the meantime we await more news about The property Insurance bill which is still making it’s way through Tallahassee with our Legislators. In Fort Lauderdale and South Florida we wait to see how bad the Citizens rate Increases will be which will also dictate prices of other home Insurance companies going into next year. Governor Rick Scott could veto the bill, which would be a surprise as he has pushed for it, but if he does it will be to win votes for the re-election.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 fullarticle below from the Insurance Journal.
April 11, 2013
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With all of the media and now a Judge trying to repeal the bill passed last year and signed by Governor Rick Scott. No one seems to want to take the bull by the horn as they are all afraid of the repurcussions that are needed to save PIP Fraud from getting even worse. Propor reform will affect a lot of people and that will break friendships and donations made. Who is willing to loose that money to do what is needed in Florida and then who will actually vote for it anyway. This looks like it will again go nowhere. Please read the full article below from the Insurance Journal. Please call L & S for quotes on Home, Auto, Flood, Business & COmmercial and Life Insurance as well at 1-888-244-7400.
January 18, 2013
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There is barely enough money for 1 storm in 1 Hurricane season and what if we have 2 storms???? If Florida, which will affect Fort Lauderdale and all of Soouth Florida worse, could see more major rate hikes soon as the Federal plan is just not likley. The Florida Cat fund may need to lower it’s exposure by 5 billion or more per storm and if that happens then all of the carriers will be required to get more expensive reinsurance form the private carriers (Like Warren Buffet’s company, among other’s). These increases will hurt the Real estate recovery in Florida as rates have been on the rise since Governor Rick Scott has come to office and even before that as well. When our Legislators meet in session soon, this will be a big topic and no National resolution could possibly come that fast. For a National plan to work, we already know that the President (Obama) must endorse the program for any hope and that is not likely as about 20 states have no interest at all to help the other’s. Please read the article below and please call L & S Insurance at 1-888-244-7400 for all quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.
January 4, 2013
Governor Rick Scott and the OIR are very friendly with the Insurance carriers in Florida. This is because they want Florida Home Insurance rates to rise and Citizens to be depopulated and this is how they think it can be done. This Congressional session in Tallahassee our Legislators will soon vote on a Citizens Insurance bill. This bill will allow Citizens to make the rates actuarily sound which they now feel will be a 17% rate hike instead of the 8-10 percent they have been taking. The real problem with this has been the re inspections and removal of discounts they used to have. Because of this, increases are 50% in many cases especially here in Fort Lauderdale and most of South Florida. Rates are as hign now as they were just after Hurricane Wilma and all of this in a bad economy which needs the Real Estate market improving, but Insurance costs are hurting it badly. Insurance costs are most of the time, higher than property taxes and in many cases like mine much worse. I pay 4K in property taxes, but I will pay about 7K for the Home Insurance on my house this year. This is all because I do not have enough nails for a wrap discount and part of my roof is flat. In any event this article is a good one so please read it below. Please call us at L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial and Life Insurance as well.
December 19, 2012
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The HO8 policy is a stripped down version of an HO3 regular Home Insurance policy. Citizens HO3 is already stripped down so the only 2 things to remove is coverage for water claims and relacement cost on the contents. Regulators with the Florida OIR want these options available, but the rates would be so close to the HO 3 why bother and now more would be attracted to Citizens instead of having them look elsewhere which is the goal. Jeff Grady of the FAIA seems very disappointed with this new policy and the issues as it is “another good idea gone bad.” If the regulators would simply let Citizens determine their own rates to be actuarily sound, they would be much higher.This is what barry Gilway of citizens and Governor Rick scott want anyway. Then the HO8 option would see better for some, but the ones who want to shop will find themselves saving money because the rate Hikes would be 25% or more annually. In Fort Lauderdale this means up to 50% in some areas and then everyone will want to shop and depopulation will be much easier as well. My agency would not want to sell the HO8 policy as it has no water claim coverage and it seems that most claims we see come from water issues with older pipes. I do not like finding myself in court with clients that forget this point and when a claim occurs all they want to do is sue me so I avaoid the issue. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, business & Commercial and life Insurance as well and please enjoy the full article below;
December 15, 2012
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CEO Barry Gilway will now stop trying to push this plan and try to change it by the Legislative session. The problems were that the Insurance companies had to keep the policies for 10 years and the premium cap was to be like Citizens at 10%. With that Knowldge the plan will fail. In the meantime Citizens and Governor Rick Scott will also keep trying to work on a Keep out plan, but with Captive agents like State Farm they only add to the problem here in Florida and Fort Lauderdale. Since they cannot write for any other carrier, every policy they write, weather it should or not, is put Into Citizens and then tell the clients it is the best thing for them. This is the root of the problem and why we have removed 250K in policies this year, but added over 300K because of State Farm agents and others that have 3 carriers to sell or less. This accounts for 28% of all agents and in S. Florida I am sure it is way more than that. This is what really needs to be resolved first as well as red lining issues that we cannot discuss here. 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;
December 13, 2012
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Investigations, accusations, Governor Rick Scott,Barry Gilway, State Rep Frank Artilles,State Rep Mike Fasano, A National Cat Fund and The Blame game are all in this article from the Fort Lauderdale Sun Sentinal, and writtten by Charlotte Greenberg and sent to me by our friends at First State Insurance. This is like, no This is, a Soap Opera clearly and all of us are the recipients of higher rates and mismangement and misconduct at a minimum. Please read the full article about Citizens Home Insurance and see what the next Legislative session in 2013 will be all about and then in 2014 new elections for the Governor’s race as well. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial Coverage and Life Insurance as well.
October 23, 2012
We are now up to 310K policies and the goal was to have 500K by Governor Rick Scott this year. More to come, but everyone will have to be carefull when shopping to avoid big problems. Please read the article below and be mindful of changing Insurance especially if your home is built 1982 or older. Please call L & S Insurance at 1-888-244-7400 to find out more how we can help on quotes for Home, Auto, Flood, Business & Commercial, and Life Insurance as well.