September 2012

State Farm had requested 14.9% increase  but was only approved at 6.4%. That  is not bad for the consumer except the damage was done by State Farm over the last 2 years with 4 additional increases and discounts being removed!  The Increase will begin 2/1/2012 so now we will see more Increases being approved  for other carriers  as well by the (OIR) Office of Insurance Regulation.Citizens Insurance will be at about 10%.Also, always remember that whatever the increase is, the rates in Fort lauderdale and All  of South Florida will always be about double that amount and other parts of North Florida will be the same or possibly lower.  Please read the full article below and call  L & S Insurance at 1-888-244-7400 for all of your quotes for home, Auto, Flood, Business & Commercial and Life Insurance quotes as well.


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.

26 million was requested, but now with Fort Lauderdale(Broward) and Other counties the amount is now up to 36 million requested. Our State Senator Bill Nelson and State Rep Alcee Hastings have also urged President Obama to reconsider. Let’s see what happen’s as Florida is a Key State for his re-election. I am surprised it was denied, but we will see how this continues. Please read the article below and call L & S Insurance at 1-888-244-7400 for all of your quotes on Home, Auto, Flood through Fema, Business & Commercial Coverage and even Life Insurance as well.


Please read to understand what Mr. Gilway wants to do to help Citizens become the Insurance company of last resort and to bring it down as Governor Rick Scott wants to 750K or lower in 3 years or less. The new Depopulation program will take 2 years to remove 500K of the 750K total.Please call L & S Insurance  at 1-888-244-7400 for all of your quotes on Home, Auto, Flood, Business & Commercial, and Life Insurance quotes as well.

350 million is the amount set aside to pay off  Insurance companies to take policies and keep them for at least 10 years. This is a Bail out program said Senator Mike faano again, but the differance is that we are also trying to bail out the consumer with prices that could come back in line if this works.If the Senator has better options then he should present them in the next session. We will not know for several years, but this could really help or not??? In any event, please enjoy the article below  and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & COmmercial and even Life Insurance quotes.

Using 350 Million from the reserves of Citizens over 10 years to Insurance companies. This will occur and once out, there should be no need to go back to Citizens. People will still be able to opt out and stay w/ Citizens. but there will be no reason to do that. The rates will be guaranteed to be no higher than Citizens would have been at the renewal. This is actually a good idea because money that will now be able to be used for the reserves on a 1 million policy company instead of a 1.5 million policy company. That reduction in policies will make the 6 billion in reserves currently a better fit if a Hurricane does hit and the reserves are needed. What will happen if a Hurricane hits this year or next, while the transition is occuring is not real clear to me yet, but time will tell. Please read the full article written by Paul Owers of the Fort Lauderdale Sun Sentinal and brought to us by our friends at First State Insurance. Please call L & S at 1-888-244-7400 for quotes on Home, Auto, Business & Commercial, Flood and even Life Insurance quotes as well.

4 larger carriers have come together to take out policies from Citizens Insurance. Florida Peninsula, Homeowner’s Choice,Southern Fidelity and Southern Oak will all take 150K policies in 2013. On top of this citizens is looking to depopulate another 500K policies over the following 2 years with differant carriers and a meeting today will set all of this in motion. The new plan will use hundreds of millions of dollars to remove all of these policies, but the risk of Hurricane claims  will be reduced and the State of Florida will be in a better position because of it. The problem  that still exists is when will Home Insurance prices come down as the Real estate market cannot handle these  prices and still sell homes. When Insurance and taxes are almost as high as the mortgage payment it is hard to qualify for a new mortgage?? Please call L & S Insurance for all of your Home, Auto, Flood, Business & Commercial and Life Insurance quotes as well at 1-888-244-7400.Please read the full story below;