Reinsurance prices have dropped this year, but we are not seeing any relief with price decreases yet on Home Insurance, and our CFO is finally asking the question why. This has taken a while as prices are way above where they were after Hurricane Wilma and things have improved since then in many ways! The reason is simple!! No one has made them lower rates. They are following the requests of our Governor Rick Scott when he came into office saying the Insurance companies need to get fiscally healthy, but not many knew what that meant. Let’s see how this pans out as The people of Fort Lauderdale, and all of S. Florida need a rate hike break as it is killing the Real estate market as well. So many are struggling with budgets and Foreclosures are still everywhere so why does the Insurance rates have to be so high. I like the pressure from the CFO and it is long overdue! Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance products as well. Please enjoy the full article below!
October 31, 2013
CFO Jeff Atwater is after the Insuarnce Commissioner Kevin McCarty for answers on Home Insurance prices!!!Posted by homeinsuranceguru under Auto Insurance, CFO, Flood Insurance, Florida, Forclosure, Fort Lauderdale, Home Owners Insurance, Reinsurance, Rick Scott GOP | Tags: Auto Insurance, Car Insurance, CFO, CFO Jeff Atwater, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home, Homeowners, Insurance, Kevin McCarty Insurance Commissioner |
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September 27, 2013
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This started in May and has been and will continue to be under investigation by the office of Insurance Regulation and The Insurance Commissioner’s office(Kevin McCarty). For this 40K policies they removed they have received another 33 Million in cash payouts from Citizens to take them Immediately instead of waiting till the renewal which was always done in the past. Heritage did give Governor Rick Scott and many others some big Campaign Contributions and they in turn had this deal almost slip under the radar, but it was caught.Barry Gilway, the head of Citizens Insurance said this was not intended, but any carrier can do the same deal. Sure they have paid several hundred claims and paid out 2-3 million so far, but they were allowed to Cherry Pick(Underwrite) the policies they wanted. If that was me, I would pick any policy that does not have a current claim pending and has not had a Claim while they were in Citizens so they are less likely to have one. Looks Like Heritage is the winner so far at about 30 million so far plus the premiums from the clients which all take out carriers receive. How will this affect Fort Lauderdale and South Florida, time will tell and the next Hurricane will tell us more about financial solvency. In the meantime, please enjoy the full article below. Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial Coverage and Life Insurance products as well.
August 12, 2013
Many questions and many more answers that still lead to more questions. The one real question is our system is so bad and controlled by Tall. that no one knows where to begin. I still affirm that you cannot deal with one problem, the system needs major overhauling. This is not liklely tgo happen anytime soon, so those of us in Fort lauderdale, S. Florida and just paying to much for Insurance, there is still no relief in sight with this Governor!!!! Please read the full article below and please call L & S at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & COmmercial and Life Insurance products as well.
June 17, 2013
Florida Governor Rick Scott, CFO Atwater,Citizens and Heritage Insurance, together smells of Politics in Tall. and will be investigatedPosted by homeinsuranceguru under Auto Insurance, Citizens Insurance, Flood Insurance, Florida, Governor, Governor Christ, Governor Rick Scott, Home Owners Insurance, Rick Scott GOP | Tags: Auto Insurance, Car Insurance, CFO, CFO Jeff Atwater, Citizens, Flood Insurance, Florida, Fort Lauderdale, Governor, Governor Rick Scott, Home, Homeowners, Insurance |
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You cannot distance yourselves from things they track and all politicians like to play Politics. Now the Democrats led by Charlie Christ(Former Republican Governor) is helping to uncover some deals that many say are shady within the Republican Party and are done for political gain. The Investigation will go into next year and who knows what they find, but the deal is done and Heritage will assume an additional 60K policies from Citizens and be paid for them. They will have to pay claims on them, but the ones they take are claim freee at that time so the risk is a good one for Heritage Insurance. What does this mean for Fort Lauderdale and S. Florida is not much. This is Politics in Tall. at their best trying to catch each other doing things instead of just trying to help. Please let L & S help you by call us at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance as well. Please enjoy the full article below as well;
September 24, 2012
Citizens Home Insurance Depopulation now being challenged by State Rep Frank Artilles of Miami Dade.Posted by homeinsuranceguru under American Integrity, Auto Insurance, Barry Gilway, Citizens Insurance, FEMA, Flood Insurance, Florida, Fort Lauderdale, Home Owners Insurance, Tower Hill Insurance | Tags: Auto Insurance, Car Insurance, CFO, CFO Jeff Atwater, Citizens, Citizens Director Barry Gilway, FEMA, Flood Insurance, Florida, Home, Homeowners, Insurance, Kevin McCarty Insurance Commissioner, policy, State Rep Frank Artilles |
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I wondered when and who would do this and here we go. Just When Citizens is about to do what it must to reduce it’s size and exposure for all Floridians Miami Dade rep Frank Artilles wants to know why a Few Insurance companies like American Integrity and The Tower Hill Group will be reciving about 180 million in tremendous loan deals to take the book. Rules were set up and any carrier that qualifies can do it, but does this put those carriers at risk to go under at the next hurricane and put all of the policies back where they are now in Citizens which has happend before??? This will be reviewed By Insurance commissioner Kevin McCarty and CFO Jeff Atwater with the New Citizens director Barry Gilway. I am sure this battle will get larger and more voices want to be heard before election time to get votes. Please enjoy 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.
June 26, 2012
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The new laws start 7/1, but will we really save money as was projected. I personally do not believe it will happen and our CFO Jeff Atwater in Tallahassee says we will have to wait 12-24 months to see. There will be some changes that will definitely help reduce some fraud, but the changes were so minor and Fraudulent people are very clever so my guess is not much will get better. To see real price reductions we need real change and this bill did not even come close by my perceptions.The deadline for rate reductions are 10/1/2012 and then not till 2014. The first date will probably be rejected by the Insurance companies because the bill just starts 7/1/2012 and no savings can be realized that quickly so in 2014 we will see. This article was sent to us by our friends at First State Insurance w/ The Sun Sentinal and please read all the details below. Please call L & S at 1-888-244-7400 for quotes on Auto and Car Insurance, Home, Flood, Business & Commercial, and even Life Insurance as well.
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.
March 12, 2012
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With all of the lobbying that was done and all of the agreements that had to be made, we will have to see if any real savings occurs in Fort Lauderdale and all over Florida. The hope is that it will reduce or eliminate Fraud and that will allow Car Insurance rates to go down in time so time will tell. Governor Rick Scott w/ Lobbying from Insurance Commissioner Kevin McCarty and CFO Jeff Atwater helped make this happen w/ the Senate Majority leader Mike Haradopolis also making it a priority. With a 1.4 Billion increase in claims since 2008 the changes were necessary and Chiropractors will now find it more dificult to get new patients from car accidents which is where a lot of Fraud starts and many patients come from.Please call L & S Insurance at 1-888-244-7400 for all of your quotes for Home, Auto, Flood, Business & Commercial and even Life Insurance as well. Please read the full article on the new bill below;
March 9, 2012
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Governor Rick Scott, Insurance Commissioner Kevin McCarty and CFO Jeff Atwater are all opposed to the Senate bill as it does not cut out the Fraud and was likely written by all of the Special Interest Groups. The House bill is to strickt and would crowd the ER’s and Hospitals so a a happy ending we do not have. A special session is likely to see how all of us in Fort lauderdale and all over Florida will finally be affected. If the Fraud continues, we will have even higher prices on Car Insurance because of the Fraud as the Insurance carrriers will be forced to increase rates.The carriers have been holding off waiting for anew bill that seems unlikley to come because the Legislators in Tallahassee cannot come to a compromise and work together as usual. Please call L & S Insurance at 1-888-244-7400 for all of your quotes for Home, Auto, Business & Commercial coverage’s, Flood and Life Insurance as well. Please read the full article below;
March 5, 2012
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Governor Rick Scott has made several changes to acccomplish his goal of reducing Citizens by 50% in the next 3 years. Since he does not have the ability to do it Legislatively this year, it is happening w/ the Citizens board. CFO Jeff Atwater and Insurance Commissioner Kevin McCarty are all behind the Governor, but with an election year upon us, the Governor does not have any pull even within his own party. Senator Mike Fasano also wants what the Governor wants, but it should not affect his people on the West Coast so he wants the process slowed for this year at least.This will make him look good during the elections.The Citizens assesments are still looming out there and could cost the average consumer about $1100 extra and most do not understand why or how this will affect them. Please read the full article brought to us by The Sun Sentinal and sent to me by our friends at First State Insurance. Please call L & S Insurance at 1-888-244-7400 to get a quote on Home, Auto, Flood, Business & Commercial and even Life Insurance quotes.