The Home Insurance Guru

10/1 /2012  is when rates are to be lowered by 10% and next year by an additional 24%. If the carrier will not lower PIP rates then they must show actuarily why to the State OIR. Most Insurer’s do not feel that the new Bill did enough to justify rate decreases yet, so time will tell, but before years end, we may see some rate reductions and hope for the best. The real problem is still Fraud which was not really dealt with  in Tallahassee this session and we can only wait and see what happens. The bills in the Florida  House and Senate were so far apart, they found a way to agree by the deadline to avoid a special session, but a lot was not included that was really needed from the House version to make real controls to be in place to prevent Fraud and that would lower rates. We will see, but please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial and even Life Insurance quotes. Please read the full article below;

http://www.insurancejournal.com/news/southeast/2012/03/21/240216.htm

Whoever did not know this does not read much, but they can and do drop people all of the time. Many of our clients at L & S are dropped for many reasons and they also do not accept everyone as well which can really hurt the Real Estate market. If you are west of I-95 and you are in Citizens Insurance and your home was built in the 70’s or later, you can usually find coverage if the home is a primary home. The problem is finding an agent that can get you coverage as not every agent can. L & S Insurance is one of those agencies that represents currently 13 carriers writing Home Insurance in Fort Lauderdale and all of S. Florida as of today. This is the most carriers we have ever had writing at one time, but the problem is price and they are high. Please read the full article below by Paul Ower’s of the Fort lauderdale Sun Sentinal and remember to call L & S Insurance at 1-888-244-7400 for all of your quotes for Home Insurance, Flood Insurance,Business & Commercial coverage, Auto Insurance and even Life Insurance. This article was sent to me by our friends at First State Insurance.

http://www.sun-sentinel.com/business/fl-citizens-cancel-20120318,0,4071338.story

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.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2012/03/lawmakers_kill_bill_to_shrink.html

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;

http://www.insurancejournal.com/news/southeast/2012/03/12/239022.htm

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;

http://www.insurancejournal.com/news/southeast/2012/03/09/238875.htm

http://www.insurancejournal.com/news/southeast/2012/03/08/238784.htm

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.

http://www.sun-sentinel.com/fl-citizens-insurance-complaints-20120226,0,6257077.story

The fight will now get hot and heavy next week as Governor Rick Scott and other’s favor the house version and many Senators even from the same party do not. I personally like the House version better, but having all accident victims forced to go to the hospital for treatment is not likely and the ER’s would be a disaster as well. At least 1 billion in premium is at steak if nothing is done and Floridians can not afford more. PIP coverage in Fort Lauderdale is already very expensive and it will get much worse and very quickly if no bill is passed. Let’s see if the Legislators in Tallahassee  decide to do something instead of the usual “put it off and decide next near attitude” they have had for many years??? Please call  L & S Insurance (888-244-7400) for quotes or info  for Car, Home, Auto, Flood, Business & Commercial coverage as well as Life Insurance. Our partner’s at First State Insurance will help w/ the auto and commercial quotes.

Thanks,

http://www.insurancejournal.com/news/southeast/2012/03/02/237873.htm