August 2010


All of the re-insurer’s thought they would be able to not pay for this, when Traveler’s had done the right thing! Now it is there time to pay up and repay Traveler’s for the monies spent! 262 million back to Traveler’s is the amount won in the suit and Traveler’s will be made whole for doing the right thing to the consumer.

http://www.insurancejournal.com/news/national/2010/08/25/112758.htm

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Tropical Depression 7, the 3rd storm the Hurricane center is now watching drwas more attention today! This is one for Florida to watch out for a little closer by the weekend and beyond. Please check your Home Insurance and Flood policies now and call your customer service departments for help:

http://www.insurancejournal.com/news/national/2010/08/25/112752.htm

Not a current threat to S. Florida, but worth watching and the tropical wave behind it as well. Please read the full story below;

http://www.insurancejournal.com/news/international/2010/08/24/112681.htm

This is a  serious problem and it causing all kinds of problems for Home Insurance here in Florida. Hurricanes is our supposed worst scenarios, but these sinkholes are bad and getting worse. The state of Florida and our Legislators in Tallahassee are going to look into the problem and will try to see what if anything can be done.Please read the article below;

http://www.insurancejournal.com/news/southeast/2010/08/23/112639.htm

http://www.sun-sentinel.com/business/fl-remax-broward-bankruptcy-20100811,0,1517834.story

How will this affect Home sales, Home Insurance and  a lot of People’s Jobs???This all started w/ Hurricane wilma and the after affects of the economy!

http://www.wsvn.com/news/articles/local/21001917902357/

During this year 140 carriers have had rate hikes ranging from 1% to 29% on a state wide average. Whatever the rate hike is, South Florida get’s double the average. Although this is necessary and I agree w/the Ins. Commissioner, why so late????  Why did he agree w/ Governor Christ before and why did he not start pushing the property bill till it was late in the game! My personal feeling is that he is looking to keep his job and no more.  He is a politician and like everyone else, he does not want to get fired. Over the last 3 years rates have fallen by 30-50% across the board and now we head back up, what is wrong w/ this picture. Home owner’s in Florida are upset and the entire system for Home Insurance is in turmoil now and for several years to come. Why did it have to come to this? As if this was not enough, it appeears that Citizens Insurance also needs major rate hikes so when will our Legislature in Tall. get wise and fix the problem before disaster strikes. I guess I ask to many questions, but please read th full artucle below:

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2010/08/florida_insurance_commissioner_6.html

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