The Home Insurance Guru

The only good news here is that the policies will continue until the anniversary and then non renew! This Insurer was put under watch by the Florida OIR  nearly 2  years ago, but has maintained itself as best it can. Over 4K policies were dropped over the last 12  months to try and help, but the financials they have are not good enough to stay in  business.Most of these people will have to go to Citizens Insurance which is where they came from, but we hope for abetter scenario if the hurricane season is not so bad. Argus is owned by United Auto and this should not affect that carrier, but we will see soon enough. Please call L & S Insurance for help w/ this matter and we will move all of our remaining clients at the non renewal date which should not occur for L & S till after Hurricane season which is coming real soon. Please read the full article by Julie Patel of the Sun Sentinal;

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/04/another_florida_home_insurer_c.html

Please read all the changes that we have been covering for you already. This includes for all carriers  except citizens; Charge whatever premiums they want, drop sinkhole coverage, pay less in claims,Shorten the time to file claims and raise the minimum reserves for Insurance companies  and  as many as 20 others in the bill. The House bill is still not ready and then the Legislators in Tallahassee will have to combine them so still a lot to do, but this was a big, yet expected step in the process! Please read the full article in The SunSentinal  by Julie Patel;Please call L & S for all your  Home Inurance quotes and  auto Insurance quotes as well.

http://www.sun-sentinel.com/business/fl-property-insurance-bill-20110428,0,2006457.story

Ina Cordle of the Miami Herald  found me(Lee Gorodetsky of L & S Insurance) on a  search for agents to talk to about this issue and I was happy to answer her questions on what is going on. She talks about Citizens Insurance, rate hikes, Hurricane season and the Legislators in Tallahassee as well as the Governor and CFO of Florida as well. I was able to have 2 of my clients interviewed including someon who is buying a home from another state and another that is being non renewed  by State Farm after 20 plus  years with them. Home Insurance is certainly a  tough issue these days, but please enjoy the article we helped provide info for and please call L & S Insurance for all of your insurance quotes and needs.

http://www.miamiherald.com/2011/04/25/v-fullstory/2184750/citizens-policy-holders-watch.html

Please read all the updates on PIP and Bodily injury claims on a  National level. In Florida they are worse and the new PIP bill in Tallahassee  is not going to pass for  political reasons, but there will still be a few amendments to the existing law to help prevvent this situation from getting worse and out of control. This is big news in Florida as our CFO, and Legislators in Tall. are trying to pass a new bill that would help reduce fraudulent claims  and keep premiums more in line. Our Governor Rick Scott  is ok w/ these changes, but it looks like the bill will not make it this term?? Please read the full article by propertycasualty360.com . Please call L & S for all your Auto Insurance and Home Insurance quotes. Please be ready for hurricane season as June 1st is just around the corner.

http://www.propertycasualty360.com/2011/04/26/bi-pip-claims-increased-nationally-in-past-2-years

Here we go w/ the last minute posturing!!! Senator Fasano sent a letter to Governor Rick Scott and Senate President Mike Haridopolous   asking this process be holted and  and a full hearing should take place to determine what really should happen. Apparantly Governor  Rick Scott also wants to eliminate Citizens in 4 years or so and force every one back into private carriers which would include Surplus lines. These are not state of Florida  guaranteed and could leave thousands out to dry in   hurricane or disaster just like what happened at Hurricane Adrew in Homestead in 1992. As if this was not enough Governor Scott and Senator JD Alexander  also wants to change the name of Citzens to  “Taxpayer Funded Property Insurance program” so everyone understands who really pays the bills! This bill is spoonsored by Senator Alan Hays and you have to wonder what they are all thinking about up there. Rates have to go up, that seems apparant, but the other things they are trying to do it is no wonder that the big Insurance carriers do not want to be here like State Farm and Allstate as we have this type of congress trying to do such weird things like this.What a welcome to Hurricane season w/ any news like this. Please call L & S Insurance for all your Insurance quotes and please enjoy the article  from Tampa Bay.com and the Sarasota Herald Tribune.

http://www.tampabay.com/news/politics/amid-report-that-scott-tried-to-kill-citizens-insurance-fasano-asks-delay/1165881

The House Committee met in Washington and discussd many things including the nearly 18 billion dollar deficit they face and the conclusion can only be 1  thing. Rate increases are coming w/ Flood Insurance through FEMA. There have been so many natural disasters around the world and the US has had a lot of flooding around the country. When the full house meets on or before  5/27  the bill is expected to pass and could be come a law by 9/30 we hope as that is when  the Flood extension expires and something needs to be done. What this means for Homeowners here in Florida is that rates will likley increase 28% by next year. This on top of the highest prices for home owners Insurance in the country and you can see  why everyone is up in arms. All of this news is coming out just in time for this years Hurricane season which is expected to be a wild one. Please read the full article from propertInsurance360.com. Please call  L & S Insurance for all your Insurance needs on our Blog page.

http://www.propertycasualty360.com/2011/04/22/house-committee-to-mark-up-flood-bill-study-shows

3 major  Home Insurance bills affecting all  Home Insurance companies and especially Citizens Property Insurance could raise rates, reduce protection for Florida consumer’s and  reduce regulation on Insurance companies or possible all 3????  Last Year Governor Christ w/ then Congressman Atwater vetoed the bill and Senator Atwater applauded the veto because it protected the Florida Insurance consumer. This year it seems that Governor Rick Scott will not veto the bills and will protect  The Insurance companies this time so the consumer is left behind and  this does not sit well w/ many although it seems like it will pass and possibly all 3 areas will go through. This may work in the long run, if many large Insurance companies come back to the Florida marketplace  and if  they decide to compete for business which could drive rates down. Well, there are many what if’s here and this does not take into account Hurricane season which will be under way in 5  weeks  and what if another one Hurricane  to Florida or S. Florida which is worse. Please read the full article by the Miami Herald editorial division and remember to call L & S Insurance or ask for a quote on this Blog page;

http://www.miamiherald.com/2011/04/21/2179551/legislature-should-hold-the-line.html

This does have to do w/ Annuity sales and being properly licensed, which a lot of people try to get away with! This claim was for taking 25K and against a senior which is the most protected market for many years especially w/ annuity sales.The CFO office and the OIR in Tallahassee are working diligently on this and many other cases. Please enjoy the article and remember to call L & S Insurance for all your Insurance needs including Life and annuity sales as well as HOMe, Auto and commercial.

http://www.myfloridacfo.com/sitePages/newsroom/pressRelease.aspx?id=3856

Fake Insurance comapnies, fake clients and false information on all 200 policies or so and Pro premium was the one being fooled. Approximately 500K is now gone and  State of Florida officials from the OIR  in Tall. will investigate. Any information to help prosecute will be helpful  to theFraud  investigation.Please read the full article  as to the deatails. Please remember to conytact L & S Insurance for all your insurance quotes for Home, Auto and commercial and see how good our customer service is;

http://www.sun-sentinel.com/business/fl-insurance-ponzi-scheme-20110412,0,7427516.story

They(Aries Insurance) folded in 2002 and this is still going on, but this money will now go into the Florida Cat Fund(Citizens) to help w/ other problem Insurance carriers w/ Issues. Please read the full article by Julie Patel  and about the office of Insurance regulation and the Florida Courts??

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/04/insurance_execs_forced_to_retu.html